The Senate is expected to advance Milan's nomination to the Federal Reserve Board on Wednesday, and he is expected to appear on the interest rate meeting list this month.

The U.S. Senate Banking Committee will vote on Milan's nomination to the Federal Reserve Board on September 10 local time, which may allow him to be confirmed by the full Senate before the Federal Reserve's September interest rate decision. The Federal Reserve will hold an interest rate meeting on September 16 and 17, and is expected to cut interest rates for the first time since December last year. Last week, Milan made a series of assurances in private and public that he would support the independence of the Federal Reserve in monetary policy rather than carry out Trump's orders, thereby winning the support of Republicans. If there are no accidents, the committee is expected to pass the nomination and submit the matter to the full Senate for a vote. After that, Senate Republican leaders will need a few days to push the necessary procedural votes to clear obstacles and complete the final confirmation. During the plenary vote, as long as four Republican senators defect, the nomination can be rejected. Six months ago, all Republican senators voted for Milan to serve as White House Vice President.