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Federal Reserve Governor Milan: Likely to Stay on After Term Ends at the End of January Until Successor Confirmed
Summary: According to sources, Federal Reserve Governor Milan stated that he is likely to continue in his position after his term ends at the end of January next year, until a new governor is confirmed to fill his vacancy. Milan's decision to stay on the board comes as President Trump considers candidates to replace Federal Reserve ...
According to sources, Federal Reserve Governor Milan stated that he is likely to continue in his position after his term ends at the end of January next year, until a new governor is confirmed to fill his vacancy. Milan's decision to stay on the board comes as President Trump considers candidates to replace Federal Reserve Chairman Powell, who is set to step down in May. Since Powell has not indicated whether he will resign from the board after his term as chairman ends, Trump is expected to use Milan's seat to nominate his chosen chairman candidate onto the board. Trump hinted at making a decision on the chairman candidate before the beginning of next year, and made it clear that he will only choose a candidate who supports his stance on significant interest rate cuts. Milan stated on Monday, 'I expect to continue in this position until others are confirmed to take over my seat.' However, Milan mentioned that whether he will continue to dissent on interest rate decisions in the future will depend on the officials' subsequent policy actions.
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Link: Federal Reserve Governor Milan: Likely to Stay on After Term Ends at the End of January Until Successor Confirmed [Copy]
