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Senate Panel Advances Trump Fed Pick Stephen Miran, Timing Uncertain for Next Week’s Fed Meeting

A court injunction keeping Lisa Cook on the board has intensified scrutiny of the Fed’s independence.

FILE - Stephen Miran, chairman of the Council of Economic Advisors, walks at the White House, June 17, 2025, in Washington. (AP Photo/Alex Brandon, File)
Stephen Miran testifies during a Senate Banking Committee hearing on his nomination to be a member of the Board of Governors of the Federal Reserve System, on Capitol Hill Thursday, Sept. 4, 2025, in Washington. (AP Photo/Mariam Zuhaib)
Stephen Miran, U.S. President Donald Trump's nominee to be chairman of the Council of Economic Advisers, sits on the day he testifies during a Senate Banking, Housing and Urban Affairs Committee confirmation hearing on Capitol Hill in Washington, D.C., U.S., February 27, 2025. REUTERS/Annabelle Gordon/File Photo
Stephen Miran, chairman of the Council of Economic Advisors and President Donald Trump's pick to serve on the Federal Reserve, speaks during a television interview at the White House, Tuesday, Aug. 12, 2025, in Washington. (AP Photo/Alex Brandon)

Overview

  • Lawmakers voted 13-11 along party lines to send Stephen Miran’s nomination to the full Senate, with Democrats unified in opposition.
  • Republicans’ 53-47 majority makes confirmation likely, yet leaders have not set a floor vote that would ensure participation in the Sept. 16–17 policy meeting.
  • Senators and aides say joining next week’s FOMC vote is a long shot given the earliest potential floor vote on Monday and a historical minimum of four business days from confirmation to swearing-in.
  • If confirmed, Miran would serve the remainder of Adriana Kugler’s term through Jan. 31, 2026, and he plans to take unpaid leave from the White House rather than resign, drawing criticism from Democrats over independence.
  • U.S. District Judge Jia Cobb’s preliminary injunction blocks Trump’s attempt to remove Governor Lisa Cook, keeping her in office as her case proceeds, while Republicans pursue rule changes to speed future confirmations.