Kevin Warsh's nomination may affect Steven Mnuchin's Federal Reserve term

Kevin Walsh has been nominated to serve as the Chairman of the Federal Reserve, which may bring an end to Stephen Milan's term on the Federal Reserve Board. Milan was appointed by U.S. President Trump to fill the vacancy left by the resignation of Adriana Kugler and is currently on leave from his position as a White House economic adviser. He supports significant interest rate cuts but has not received broad support from the committee. Milan's term is theoretically set to expire at the end of this week, but he may continue to serve until his successor is confirmed. He has not disclosed whether he will return to the White House.