Summary
A Senate committee voted to approve Stephen Miran's nomination for the Federal Reserve’s board, moving it closer to a full Senate vote. Miran, a White House economic adviser, would replace former Fed governor Adriana Kugler until her term ends in January. Critics are concerned about Miran's plan to keep his current White House job while serving on the Fed's board.
Key Facts
- Stephen Miran's nomination to the Federal Reserve board was approved by a Senate committee.
- Miran is currently a White House economic adviser.
- He was nominated by President Donald Trump to replace Adriana Kugler.
- If the full Senate approves, Miran will serve until Kugler's term ends in January.
- The committee's vote was 13-11 along party lines, with Democrats opposed.
- Miran plans to remain in his White House role while on the Fed board.
- This decision has raised concerns about the Fed's independence from politics.
- A federal court has blocked Trump's effort to fire another Fed governor, Lisa Cook.
