"Fed Whisperer": Unprecedented Arrangement for Fed Governor Nominee Milan to Consider Retaining White House Role During Term

　　Xinhua Finance, Beijing, September 5 – "Fed Whisperer" Nick Timiraos reported that Joseph Milan, a Federal Reserve governor nominee by U.S. President Trump, stated that after completing his short-term service at the Fed, he intends to return to his original position at the White House next year—an arrangement that has no precedent in the decades since Congress sought to separate the executive branch from the Federal Reserve.

　　At a Senate confirmation hearing on Thursday, Milan mentioned that his lawyers advised him to take unpaid leave from his current role as Chair of the White House Council of Economic Advisers, allowing him to return without undergoing another Senate confirmation process next year. Milan was nominated to fill the term left by the unexpected resignation of Governor Kugler last month, which will last until January 31, 2026.

　　Democratic lawmakers raised concerns that this arrangement could compromise his commitment to independent judgment. Republican Senator Mike Rounds of South Dakota later told reporters that he was surprised by the proposal, but no Republican legislators have indicated they would oppose Milan's nomination confirmation on these grounds.