ChainCatcher news reports, according to Jin Ten Data and Politico, two informed sources revealed that the U.S. Senate Banking Committee is expected to hold a hearing next week regarding the Federal Reserve (temporary) nominee, Milan Ming. This hearing has been in preparation since before Trump's actions against Cook and has not yet been officially announced.

The hearing will test the degree of support among Republicans for Trump's radical plan to reshape the Federal Reserve, while also providing Democrats with a new opportunity to pressure Republican lawmakers to clarify their stance on maintaining the independence of the Federal Reserve. A Republican congressional aide remarked about the Milan nomination: "Right now, this is more like a statement of political stance, and also a 'referendum' on Trump. The nomination itself has already moved beyond the control of the nominee."