Will Milan participate in this week's FOMC meeting? The answer will be revealed tomorrow.

The U.S. Senate will vote on the nomination of Milan as a Federal Reserve Board governor on Monday evening local time. According to the Senate schedule, senators will conduct a procedural vote at 5:30 pm local time and the final confirmation vote will begin around 8 pm. If all formal procedures are completed smoothly, Milan may be able to participate in the Federal Reserve interest rate meeting starting this Tuesday. However, it is still uncertain whether he can complete his swearing-in and participate in the meeting in a short enough time; typically, it takes several days from Senate approval to inauguration, but there have been precedents where some governors have joined the FOMC meeting just one day after their nomination was confirmed.