Stephen Miran, chairman of the Council of Economic Advisers, following a television interview outside the White House in Washington, DC, US, on Tuesday, June 17, 2025. <\/p>\n
Aaron Schwartz | Bloomberg | Getty Images<\/p>\n
The Senate Banking Committee<\/a> voted Wednesday to advance the nomination<\/a> by President Donald Trump<\/a> of Stephen Miran<\/a>, a top White House economic advisor, to become Federal Reserve governor for at least the next several months.<\/p>\n The 13-11 vote along party lines came a day after a federal judge in Washington, D.C., temporarily blocked Trump from firing another Fed governor, Lisa Cook<\/a>, while her lawsuit challenging his removal<\/a> of her plays out in court.<\/p>\n And it came a week before the Fed board is set to meet to discuss possibly cutting interest rates, as Trump has demanded it do for months.<\/p>\n “Just out: No Inflation!!! “Too Late” must lower the RATE, BIG, right now,” Trump wrote in a Truth Social post that criticized Fed Chairman Jerome Powell.<\/p>\n “Powell is a total disaster, who doesn’t have a clue!!!” Trump wrote.<\/p>\n Every Republican on the Banking Committee voted to send Miran’s nomination to the full Senate, and every Democrat voted no on that question.<\/p>\n Trump tapped Miran, the chair of the Council of Economic Advisors<\/a>, to replace Adriana Kugler<\/a>, who unexpectedly resigned in August<\/a>. Kugler has given no reason for her departure from the seven-member board.<\/p>\n If confirmed by the full Senate, Miran would serve until Jan. 31, the end of Kugler’s term.<\/p>\n