The Senate is expected to advance Milan's Federal Reserve Board nomination on Wednesday, which is likely to appear on this month's interest rate agenda. According to Golden Finance, the U.S. Senate Banking Committee will vote on Milan's Federal Reserve Board nomination on September 10, local time, which could allow him to gain full Senate confirmation before the Federal Reserve's September interest rate decision. The Federal Reserve is set to hold its interest rate meeting on September 16 and 17, with expectations for its first rate cut since last December. Last week, Milan made a series of assurances in private and public settings, stating that he would support the independence of the Federal Reserve's monetary policy rather than execute Trump's orders, thereby garnering support from Republicans. If no surprises occur, the committee is expected to approve the nomination and submit the matter for a full Senate vote. Subsequently, Senate Republican leaders will need a few more days to push the necessary procedural votes to clear obstacles and complete the final confirmation. During the full vote phase, if four Republican senators defect, the nomination can be vetoed. Six months ago, all Republican senators voted in favor of Milan serving as chair of the White House Council of Economic Advisers.