The Senate is expected to advance Milan's Fed nomination on Wednesday, which is expected to appear on this month's interest rate list

Huobi HTX reported that the U.S. Senate Banking Committee will vote on the nomination of the Federal Reserve Board of Directors in Milan on September 10 local time, which may allow it to be confirmed by the entire Senate before the Federal Reserve's September interest rate resolution. The Federal Reserve will hold interest rate meetings on September 16 and 17, and is expected to cut interest rates for the first time since December last year. Last week, Milan won Republican support by making a series of assurances privately and publicly, saying he would support the Fed’s independence in monetary policy rather than enforcing Trump’s orders. If there is no surprise, the committee is expected to pass a nomination to submit the matter to a full vote in the Senate. Thereafter, it will take several days for Senate Republican leaders to push for the necessary procedural votes to clear the barriers and complete the final confirmation. During the voting phase, as long as four Republican senators turn against each other, the nomination can be rejected. Six months ago, all Republican senators voted for Milan to chair the White House Economic Advisory Committee.