Tue, 16 Sep 2025

Tue, 16 Sep 2025 Senate clears Trump pick Miran to Fed board ahead of key interest rate vote

His entry has raised concerns over the Fed's independence, following Trump's bid to reshape the central bank.

* Stephen Miran, a White House economist, has been confirmed by the US Senate to join the Federal Reserve's board of governors.
* He was confirmed with a narrow vote of 48-47 and will be the first sitting White House official to join the Fed's board since its creation in its current form in the 1930s.
* Miran is expected to take part in a key Fed policy meeting this week as one of 12 voting members, playing a central role in Trump's bid for a large interest rate cut.
* The Fed is expected to approve a quarter-percentage point rate cut to support a weakening labor market.
* Senator Elizabeth Warren raised concerns that Miran would not be an independent voice on the Fed board and could be seen as a "puppet" of the White House.
* Trump has put pressure on the Fed for months, demanding interest rate cuts to boost the US economy.
* The confirmation vote was fast-tracked in just a few weeks, when it typically takes months for a Fed governor nominee to be confirmed by the Senate.
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