The White House is pressing Senate Republicans to confirm an ally of President Donald Trump to the Federal Reserve board in time for its next meeting in mid-September, when members will decide whether to slash interest rates for the first time this year.

The GOP-led Senate doesn’t return from the August recess until Sept. 2, giving a short timeline for Republicans to usher Stephen Miran, currently Trump’s chief economist, through two votes — one in the Banking Committee and another on the Senate floor. But the administration has been arranging a quick series of meetings with GOP senators to expedite the confirmation process.

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