Trump's Fed nominee, Milan, is expected to pass Senate Banking Committee

 Stephen Miran, a senior economic advisor at the White House, is expected to clear the obstacles in the US Senate on Wednesday, obtain a nomination for a Federal Reserve Board member, and further advance Trump's efforts to have a more direct impact on interest rate policy and the broader functions of the Federal Reserve. The Senate Banking Committee is expected to vote before the hearing at 10 am Eastern Time (10 pm 东八区) to submit Miran's nomination to the full Senate. Democratic members are expected to vote against the nomination as a whole, but the Republican majority of 13-11 on the committee is expected to ensure the nomination goes through. Lawmakers involved in the process said it is currently uncertain whether the remaining confirmation process can be completed in time for Miran to attend the Fed policy meeting on September 16-17. A Senate Republican aide familiar with the confirmation process said that, according to the Senate's complex rules, Miran could be approved as early as Monday, leaving little time to complete other necessary steps before Miran is sworn in. However, the Republican majority of 53-47 in the Senate means that even if he is unable to participate in next week's interest rate vote, he is likely to take office shortly thereafter.