Democratic Lawmakers Call for Milan to Resign from White House Advisory Role

BlockBeats News, September 9: Democratic members of the U.S. Senate Banking Committee have requested that before further steps are taken to advance his nomination to the Federal Reserve, Mark Milley must commit to resign from his position as White House Chief Economic Advisor by September 8. Milley stated during last week's nomination confirmation hearing that he only needs to take unpaid leave from the White House Economic Advisory Board, as his position at the Federal Reserve is only until the end of January next year.

Democratic senators pointed out that Milley's term may be longer, depending on the time needed to confirm his successor, and his dual role as a Federal Reserve Governor and Trump advisor creates a potential conflict. Democratic members stated in a letter to Milley: "The notion that you can independently assess monetary policy and financial regulation is absurd. Without such a commitment, we believe the committee should not proceed with your nomination." (FXStreet)