Trump's chief economic adviser, Milan, may not be able to vote at the Federal Reserve's interest rate meeting on September 17

Wyoming Republican Senator Cynthia Lummis told the Senate Banking Committee that Milan's confirmation in time for the Federal Reserve's September 16-17 interest rate meeting "will be very challenging," as Republicans are seeking to change the nomination process, and "introducing a new process will take a significant amount of time." The Senate Banking Committee is expected to vote on Wednesday to advance Milan's nomination to the full Senate for consideration. Although the nomination is expected to face unanimous opposition from Democrats, the committee's vote is still expected to approve it given the 13-11 Republican majority. Even if Republicans hold a voting advantage in the Senate, it is unclear when the full Senate can schedule a vote due to the Senate's complex rules. After Senate confirmation, Trump will still need to sign the appointment letter, and the Federal Reserve will need to hold a swearing-in ceremony for Milan. In recent history, the fastest time from Senate confirmation to Fed swearing-in is four business days. (Jinshi)