Summary
The U.S. Senate confirmed Stephen Miran, a top adviser to President Donald Trump, to the Federal Reserve Board. The confirmation vote was 48-47, primarily along party lines. Miran will fill a term ending in January, taking over from Adriana Kugler who stepped down in August.
Key Facts
- Stephen Miran was confirmed to the Federal Reserve Board by the Senate with a vote of 48-47.
- The vote was mostly along party lines, with all Democrats opposed and all but one Republican, Lisa Murkowski, in favor.
- Miran will replace Adriana Kugler, who resigned from the board on August 1.
- He is filling an unexpired term that ends in January.
- Unlike others before him, Miran plans to stay as chair of the White House's Council of Economic Advisers while on unpaid leave.
- In the past, roles like this were fully vacated when someone joined the Fed Board, such as Ben Bernanke, who left his White House job.
- If Miran is appointed for a longer term at the Fed, he intends to resign from his White House role.
