Senate Banking Committee Senior President Wednesday Trump’s Choose to fill the vacancy in the Fed’s Board of Governors.
The 13-11 partisan vote made White House Economic Advisory Board Chairman Stephen Miran as Mr. confirmed the conditions. trump card Trying to reshape his preferences in the central bank.
Mr. Milan will fill the board vacancy left by Biden-appointed Adriana Kugler.
“Dr. Milan is ready to step in this role, which is crucial to promoting opportunities, promoting accountability and protecting American prosperity,” said Tim Scott, chairman of the Republican Committee of South Carolina.
Democrats objected to the nomination, saying sir. trump card Try to stock with loyalists, rather than ensuring the political independence of the bank.
gentlemen. trump card Attempts to fire another competitively appointed federal governor, Lisa Cook, who committed accusations of mortgage fraud in 2021.
If Mr Milan is confirmed and replaces Ms. Cook, it will allow the White House to take the majority of seats appointed by Trump on the Fed’s board, while urging the central bank to lower interest rates.
In particular, senior Democrats opposed Mr. Milan’s plan to work from the White House rather than resign. He is filling the remainder of his term as of January, and Mr Milan said he was advised to take leave because it is unclear whether he will get a long term in the Fed in the mid-term.
Elizabeth Warren, a Massachusetts Democrat, said Mr Milan’s “so-called leave is a bad joke.” He knew that every vote he attended determines whether he could return to work at the White House. That’s not independence. That’s slavery. ”
The Fed would not bow to his husband. Trump’s Wishing and cutting interest rates, fearing inflation of his ever-changing tariff plan.
gentlemen. trump card It was recently noted that despite the doomsday’s forecasts on his trade agenda, recent inflation reports indicate that prices have not soared.
The Fed is expected to lower interest rates at its September meeting due to slowing hiring.
