Democratic lawmakers demand that Milan must resign as White House advisor

Democrats on the U.S. Senate Banking Committee have demanded that Milan must commit to stepping down as White House chief economic adviser by September 8 before the Republican-controlled Senate Banking Committee takes further steps to advance his nomination. Milan said during his confirmation hearing last week that he would only need to take unpaid leave from the White House Council of Economic Advisers because his Fed position only lasts until the end of January. Democratic senators noted that Milan's tenure could be longer depending on how long it takes to confirm his successor, with Milan's dual role as a Fed governor and Trump adviser creating a potential conflict. "The notion that you can exercise independent judgment on monetary policy and financial regulation is absurd," the Democratic lawmakers said in their letter to Milan. Without such a commitment, we don't think the committee should move forward with your nomination. "