Odaily Planet Daily reports that Nick Timiraos, known as "Federal Reserve Voice," stated that Trump's nominee for the Federal Reserve Board, Stephen Milan, has been a staunch supporter of the president's economic agenda and strongly criticized the Fed's decision to cut interest rates last year. Milan criticized the "revolving door" mechanism between the Fed and the executive branch (the frequent exchange of positions between government officials, regulatory agencies, and the private sector). "Severing the revolving door between the Fed and the executive branch is crucial to reducing the incentives for officials to act for the president's short-term political interests." In his paper, he proposed comprehensive legislative reforms to the Fed's governance system, arguing that the existing system fails to ensure its political neutrality. Specific proposals include allowing the president to remove Fed governors for any reason and imposing a four-year ban on Fed officials from serving in the executive branch.