Trump nominates Stephen Milan to join the Fed's Council, likely to gain majority supporters before September meeting
Source: Binance
Time: 2025-08-31 10:54:38
According to Kingshin data, the Federal Reserve Board currently includes Powell, Jefferson, Barr and Cook, among which Cook is in a lawsuit with Trump. Trump has nominated adviser Stephen Milan to fill the vacancy after Kugler resigns.
The Senate Banking Committee will hold a nomination confirmation hearing for Milan next Thursday. If approved quickly, Milan may join the Federal Reserve before its September meeting. Trump will have at least three supporters on the board of directors.
If the court ruled that Trump could fire Cook, Trump would quickly nominate his successor to gain a majority of supporters in the council. The ruling is difficult to complete before the September meeting, but Cook's absence could lead to a draw on the board.