Senate confirms Stephen Miran for Federal Reserve board as rate cut decision nears

The Senate confirmed Stephen Miran to the Federal Reserve's Board of Governors with a 48-47 vote. His appointment comes ahead of a crucial Fed meeting regarding potential interest rate cuts. Miran will fill the remainder of Federal Reserve Governor Adriana Kugler's term, which ends in January 2026.

He currently leads the White House's Council of Economic Advisers and intends to continue in that role if approved.

Miran emphasized the importance of Fed independence, stating, “In my view, the most important job of the central bank is to prevent Depressions and hyperinflations.”