Bernstein: Expects Milan to Catch Up with the Fed's September 17 Interest Rate Meeting

BlockBeats News, September 10th: U.S. Treasury Secretary Yellen stated that she believes Malin will be able to catch up with the Federal Reserve's meeting on September 17th.

Earlier reports suggested that Trump's nomination of Malin as a Federal Reserve board member was expected to clear a key hurdle in the Senate on Wednesday. However, senators indicated that it might still be too late for Malin to participate in the upcoming Federal Reserve meeting next week.

When asked about the logistical work of confirming Malin's appointment before the September Fed meeting, Republican Senator Lummis of the Senate Banking Committee said, "I think this will be very challenging. Even rolling out a new procedure will take a lot of time." She was referring to Republicans seeking possible changes to the nomination process.

The Banking Committee is expected to vote on Wednesday on whether to advance Malin's nomination to the full Senate for consideration. Democrats are expected to unanimously oppose, but Republicans on the committee are expected to advance the nomination with a 13-11 majority vote. The timing of a full Senate vote is currently unclear. A Senate Republican aide said Malin's nomination could be confirmed as early as next Monday.