Senate Confirms Stephen Miran to Federal Reserve Board Ahead of Key Rate Vote
President Trump's Council of Economic Advisers chair, Stephen Miran, wins narrow Senate approval to join the Fed's board, raising questions over central bank independence before a critical interest rate decision.
The US Senate on Monday confirmed President Donald Trump's pick, Stephen Miran, to the Federal Reserve Board of Governors by a 48-47 vote. Miran, who chairs the Council of Economic Advisers, is the first sitting White House official to join the Fed board since its modern structure was established in the 1930s.
His quick confirmation has stirred debate over the Fed's long-standing independence, as he prepares to cast a vote on interest rates at this week's policy meeting. The Trump administration is pushing for a substantial rate cut, and Miran is expected to support that agenda.
In parallel, President Trump has sought to oust Governor Lisa Cook, the first Black woman on the Fed board, over mortgage fraud allegations she disputes. Last week, a US appeals court kept in place an earlier ruling blocking Trump from removing Cook.
Miran's addition highlights deep concerns about political influence over the Federal Reserve just days before a crucial interest rate decision.
This topic was reported by BBC.
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