Trump adviser Stephen Miran on track for Fed seat

Published: Tuesday, September 16, 2025 at 12:15 am

Trump Advisor Poised to Join Federal Reserve Board

Washington, D.C. – Stephen Miran, a White House economic advisor, is on the cusp of joining the Federal Reserve Board after clearing a significant hurdle. The Senate Banking Committee voted to advance his nomination, paving the way for a potential confirmation by the full Senate. If confirmed, Miran would fill the unexpired term of Adriana Kugler, who recently resigned.

Miran currently serves as chair of the White House Council of Economic Advisers. During his committee hearing, he stated he would take a leave of absence from his current role while serving on the Fed board. This arrangement has raised questions about the independence of the central bank, particularly given the political context.

Concerns about Miran's independence stem from his close ties to President Donald Trump, who has publicly pressured the Fed to lower interest rates. Senator Jack Reed, D-Rhode Island, questioned the inherent conflict of interest in Miran's dual role as a presidential employee and an independent member of the Federal Reserve. Miran, however, has asserted his commitment to independent decision-making while on the board. Senator John Kennedy, R-La., indicated that Miran would be held accountable to this commitment.

The timing of Miran's potential appointment is notable, as the Fed is expected to begin discussions on interest rates shortly after his confirmation. Federal Reserve Chair Jerome Powell has faced criticism from Trump for his reluctance to lower borrowing costs. Trump has also attempted to remove Federal Reserve Governor Lisa Cook, though a judge has since ruled against the move.

BNN's Perspective: The appointment of a White House advisor to the Federal Reserve Board, particularly during a period of political pressure on the central bank, presents a complex situation. While Miran has pledged independence, the perception of potential influence from the White House is unavoidable. The Senate's confirmation process will be crucial in ensuring the integrity and impartiality of the Federal Reserve.

Keywords: Stephen Miran, Federal Reserve, Fed, Senate Banking Committee, Donald Trump, interest rates, Jerome Powell, Adriana Kugler, White House, economic advisor, central bank independence, Lisa Cook

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