President Donald Trump’s appointee for the Federal Reserve Board of Governors was recently approved by a Senate committee, in what is seen as a big win for the White House.
White House economic adviser Dr. Stephen Miran was confirmed by the Senate Banking Committee along partisan lines in a 13-11 vote, with all Democrats voting against the confirmation, as Breitbart News reported.
Due to the political makeup of the full Senate, it is expected that the Trump nominee will likely be approved by the upper chamber of Congress.
If confirmed, Miran will sit on a seven-member board that would, with his addition, have three Trump appointees in residence.
Miran, who was a top advisor on the economy for Trump, is thought likely to bring more presidential control to the governing body, which could push interest rate policy toward what the president believes is best.
At the time of his nomination, Trump said that Miran had “served with distinction in my First Administration,” in a post on Truth Social.
“He has been with me from the beginning of my Second Term, and his expertise in the World of Economics is unparalleled — He will do an outstanding job. Congratulations Stephen!”
It is believed that the president has long hoped to gain a majority on the Fed’s board in order to push the central bank to cut its key interest rate.
The nominee has a Ph.D. in Economics from Harvard University, but despite his stellar qualifications, he would only serve in the role until Jan. 31, 2026, because he is filling a seat recently vacated.
Miran, if confirmed, would be replacing former Fed governor Adriana Kugler, who stepped down from the position on Aug. 1 of this year.
Should the Senate move quickly, the newly approved nominee could be in his position in time for the Fed’s meeting, which will take place early next week.
That meeting is expected to cover the topic of the reduction of key short-term interest rates, which is something of deep concern to Trump.
Fed Nominee Dr. Stephen Miran Pledges Independence.
Commits to long-term economic stewardship and serving the American people with integrity.#WashingtonEye pic.twitter.com/XeGEYrL7O4
— Washington Eye (@washington_EY) September 4, 2025
Currently, another Fed governor, Lisa Cook, is struggling to hold on to her seat on the same board, as the administration asserts her removal is necessary due to allegations she has taken part in mortgage fraud.
