The U.S. Senate is expected to hold a vote soon on the nomination of Mellin to the Federal Reserve Board. An interim vote is scheduled for 5:30 p.m. local time on Monday, followed by a final confirmation vote around 8 p.m. If all legal and administrative procedures are completed smoothly, Mellin could participate in the Federal Reserve’s policy meeting starting Friday. However, it remains unclear whether Mellin will be able to take the oath and join the meeting on time. The Federal Reserve, as the central bank of the United States, plays a crucial role in maintaining economic stability and overseeing monetary policies, with its decisions influencing global financial markets. Members of the Federal Open Market Committee (FOMC) actively engage in discussions on interest rates, inflation, and other economic indicators. While it typically takes a few days after Senate approval for a nominee to be sworn in, some past members have attended meetings the day after confirmation. If Mellin manages to do so, they could impact key financial decisions. This nomination is viewed as a significant step affecting U.S. monetary policy and the global economy, as new membership on the Federal Reserve Board can alter the balance and direction of policy. Market participants and economic experts are closely monitoring this development.
Source: binance
