The U.S. Senate has narrowly confirmed President Donald Trump’s nominee Stephen Miran to the Federal Reserve’s board of governors, intensifying debate over the Fed’s independence.
Miran, chair of the Council of Economic Advisers, becomes the first sitting White House official to join the Fed’s board since the 1930s. His confirmation, by a 48–47 vote on Monday, was expedited in just a few weeks, a process that normally takes months.
He will participate immediately in this week’s policy meeting as one of 12 voting members, where the Fed is expected to approve a quarter-point rate cut. The move aligns with Trump’s push for lower borrowing costs to stimulate a weakening U.S. labor market.
Miran has publicly defended Trump’s global tariffs, arguing they will not drive inflation, while claiming stricter immigration measures could reduce housing demand and stabilize prices.
Critics, however, fear his appointment undermines the central bank’s autonomy. Senator Elizabeth Warren warned that Miran could be viewed as a “puppet” rather than an independent voice.
The decision comes amid escalating tensions between Trump and Fed Chair Jerome Powell, whom the president has repeatedly criticized as “too late” in responding to economic challenges.
Adding to the storm, Trump is also seeking to oust Fed Governor Lisa Cook, citing allegations of mortgage fraud. Cook, the first Black woman on the board, denies the claims and has sued to block her removal. A U.S. appeals court on Monday refused to lift a ruling that temporarily protects her position.
The Miran confirmation and Cook dispute underscore Trump’s wider efforts to reshape the Fed, even as investigations into political rivals such as Senator Adam Schiff and New York Attorney General Letitia James continue to deepen partisan tensions.
