To catch up with next week's FOMC meeting, the Republican Party is accelerating the process of approving Milan's entry into the Federal Reserve.

The Senate Banking Committee voted along party lines on Wednesday to support the nomination of Stephen Moore, a Trump advisor, to serve as a short-term Federal Reserve Board member. At the same time, Republicans are moving quickly to have him confirmed before next week's meeting. According to sources, Wednesday's vote of 13-11 in favor means Moore is likely to receive a full Senate confirmation vote on Monday. The Federal Open Market Committee (FOMC) is set to meet on September 16-17. Given the slowdown in job growth, the committee is expected to announce its first interest rate cut since December of last year. Moore, the current chair of the White House Council of Economic Advisers, told senators he would join the Fed on unpaid leave. It is not clear whether Trump will nominate him for a full 14-year term on the Fed board after his short-term appointment, or if he will be asked to return to his original position in the White House. Democrats view this arrangement as absurd, pointing out that Trump's decision on whether Moore stays at the Fed or returns to the White House for a paid job makes his supposed "independence" questionable. Senator Elizabeth Warren said, "He knows that every vote he casts will determine whether he can return to work in the White House," calling the relationship "co-dependency." Trump's firing of Fed board member Lisa Cook, as well as his wide-ranging actions to intervene in the Fed, have raised concerns about the central bank's ability to maintain its independence. Cook has legally challenged her dismissal, and on Tuesday, a judge issued a temporary restraining order preventing Trump from firing her.