Treasury Secretary Besant defended an arrangement allowing Milan to temporarily leave his White House role and later return after serving as a Federal Reserve governor.
Stephen Milan was sworn in as a Federal Reserve Governor on September 16 and will attend this week’s FOMC meeting. Treasury Secretary Besant stated that a special arrangement permits Milan to temporarily leave his White House role and return as chairman of the Council of Economic Advisers after his Fed tenure without compliance issues. The Senate confirmed Milan’s nomination in a partisan vote. President Trump may nominate him for a full 14-year term in February, or Milan could continue indefinitely if no replacement is named.