In a closely watched development, Stephen Miran, President Donald Trump's pick for a temporary position on the Federal Reserve's Board of Governors, has cleared a significant hurdle on his path to confirmation.
Breitbart reported that Stephen Miran’s nomination progressed with a 13-11 party-line vote in the Senate Banking Committee on September 11, 2025, and now awaits a full Senate vote on September 15, 2025, potentially positioning him to influence key monetary decisions at the upcoming Federal Open Market Committee meeting.
The Senate Banking Committee's decision on Thursday came after intense debate over Miran’s qualifications and potential impact on the Federal Reserve's policies. If approved by the full Senate on Monday, he could join the pivotal meeting scheduled for September 16 and 17, 2025.
During the upcoming Federal Open Market Committee (FOMC) gathering, experts anticipate an announcement regarding a potential reduction in interest rates. Miran’s presence at this meeting could play a role in shaping the outcome of such a significant policy shift.
Miran, who currently serves as the chair of the White House Council of Economic Advisers, is set to fill the vacancy left by Andrea Kugler, who resigned unexpectedly before her term concluded in January 2025. His appointment, if confirmed, would be temporary, covering only the remainder of Kugler’s tenure.
Looking ahead, President Trump holds the option to nominate Miran for a full 14-year term on the Federal Reserve Board, though this would require another round of Senate confirmation. Alternatively, Trump could select a different candidate, potentially someone eyed for the Fed chairmanship when Jerome Powell’s term ends later in 2025.
Until a new nominee is confirmed for the longer term, Miran would remain in the position if he secures Senate approval. This interim arrangement has sparked discussions among lawmakers about the continuity of leadership at the central bank.
Criticism has emerged from Democratic senators regarding Miran’s plan to take an unpaid leave from his White House role while serving on the Federal Reserve Board. They argue that this setup could undermine the independence of the nation’s central banking system.
Many Federal Reserve officials have historically taken similar leaves from private sector or academic roles during their tenure. However, Miran’s connection to a high-profile White House position has intensified scrutiny over potential conflicts of interest.
During his confirmation hearing, Stephen Miran addressed concerns about his dual roles and commitment to the Federal Reserve’s autonomy.
I would take an unpaid leave of absence from that position while working at the Fed. My focus would be entirely on the responsibilities and independence required of a Federal Reserve Board member during my time in this role.
As the full Senate prepares to vote on September 15, 2025, the outcome remains a focal point for both political observers and financial markets. Miran’s potential participation in the FOMC meeting immediately following the vote adds urgency to the confirmation process, with an expected interest rate decision hanging in the balance.
The road to this point has highlighted broader debates over Federal Reserve independence and the influence of political affiliations on monetary policy. With Miran’s nomination advancing after a tight 13-11 committee vote on September 11, 2025, his short-term appointment to replace Andrea Kugler, the possibility of a future 14-year term or a different nominee, and the looming FOMC meeting on September 16 and 17, 2025, all underscore the stakes of Monday’s Senate decision.
