The Senate on Monday night confirmed Chairman of the Council of Economic Advisors Stephen Miran’s nomination for the Federal Reserve Board of governors.
President Donald Trump nominated Miran last month to replace former board member Adriana Kugler, who was appointed by former President Joe Biden in 2023. Kugler was expected to step down next year but left the post last month.
Miran’s confirmation, which passed primarily in a party-line 48-47 split, comes ahead of a two-day meeting where the board is expected to consider lowering interest rates. The meeting begins on Tuesday.
Alaska Republican Sen. Lisa Murkowski voted against Miran’s confirmation over his ties to the White House, stating the board needed to be independent of the current administration.
“We want it, need it, to be that independent board, and so anything that would compromise even the perception of independence, I was looking at very carefully,” Murkowski told reporters, per the New York Times.
The new board member will serve on the panel through January 31, 2026. Trump is expected to name a new nominee next year, who will then serve in the post for a full 14-year term.
Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.
