Stephen Milan has been sworn in as a member of the Federal Reserve Board of Governors, with his term set to end on January 31, 2026. Milan previously served as the Chairman of the White House Council of Economic Advisers during the Trump administration and held a role in the Treasury Department focusing on economic policy. Despite Milan's emphasis on the Fed's independence during his nomination process, analysts suggest his appointment may reflect Trump's desire for a governor more inclined towards easing monetary policy. Following his swearing-in, Milan will participate in Federal Reserve Board and FOMC meetings.