Stephen Miran Confirmed to Federal Reserve
Analysis based on 6 articles · First reported Sep 16, 2025 · Last updated Sep 16, 2025
The appointment of Stephen Miran to the United States — Federal Reserve board, despite concerns about its independence, could lead to greater White House influence over monetary policy, potentially resulting in deeper interest rate cuts as demanded by Donald Trump. This could stimulate borrowing and spending in the United States economy, but also risks exacerbating inflation if not managed carefully.
The United States confirmed Stephen Miran, one of Donald Trump's top economic advisers, to the United States — Federal Reserve's governing board by a narrow 48-47 vote. This appointment is seen as increasing the White House's influence over the United States — Federal Reserve, especially as the central bank is expected to vote on reducing its key interest rate. Miran's nomination sparked controversy because he stated he would retain his position as chair of the Council of Economic Advisers while taking unpaid leave, which Senate Democrats, including Chuck Schumer, argued was incompatible with the United States — Federal Reserve's independence. This event occurs amidst an uncertain economic period for the United States, with inflation above the 2% target and weakening hiring. Separately, Donald Trump's efforts to fire United States — Federal Reserve governor Lisa Cook, appointed by Joe Biden, were blocked by federal courts.
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