NextFin news, The U.S. Senate confirmed Stephen Miran, President Donald Trump’s pick for the Federal Reserve Board, on Monday evening in Washington, D.C., with a 50-44 vote. This confirmation allows Miran to join the Federal Reserve’s upcoming meeting on interest rates scheduled to begin on Tuesday.
Miran was nominated to fill the seat vacated by former Fed Governor Adriana Kugler, who resigned in August before her term ended in January 2026. His confirmation came after the Senate voted to end debate on his nomination earlier Monday evening, largely along party lines, with Republican Senator Lisa Murkowski as the only GOP member opposing the nomination.
As a member of the Federal Reserve Board of Governors, Miran will have a vote on the Federal Open Market Committee (FOMC), which sets U.S. monetary policy including interest rates. The committee is expected to consider a quarter-point interest rate cut at this meeting, the first reduction since December of the previous year, amid concerns about a weakening labor market.
Stephen Miran currently serves as the chief White House economist and has stated he would resign from that role if confirmed for a full term on the Fed Board. His appointment comes amid President Trump’s ongoing efforts to influence Federal Reserve policy, including calls for aggressive interest rate cuts to support the housing market.
The confirmation also occurs as the Trump administration attempts to remove Fed Governor Lisa Cook, appointed by the Biden administration, citing allegations of mortgage fraud. However, a federal judge blocked Cook’s removal earlier this month, and the Department of Justice has appealed the decision. It remains uncertain whether Cook will participate in the upcoming Fed meeting.
The Senate’s confirmation vote took place on Monday evening, just one day before the Federal Reserve’s two-day policy meeting begins in Washington, D.C. This timing ensures Miran’s immediate involvement in critical decisions affecting U.S. monetary policy.
Sources for this report include The Daily Caller, Semafor, and NBC News, which provided detailed coverage of the Senate proceedings and the broader context of the Federal Reserve’s policy environment.
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