"Miran, chairman of the White House Council of Economic Advisers, was approved by the Senate Banking Committee last week with all Republicans voting in favor and all Democrats opposed. Sen. Lisa Murkowski of Alaska was the only Republican to vote against Miran's confirmation on Monday. Miran, who is stepping in to complete Adriana Kugler's term through January 2026 after she resigned from the board on Aug. 1, joins the Fed's 12-member rate-setting board."
"The Trump administration has pressured Fed Chair Jerome Powell to lower rates or resign, and is now applying pressure to Fed Governors, including an effort to fire Fed Governor Lisa Cook for cause. An appeals court on Monday night blocked Trump's attempt to remove Cook while the case moves through the courts. Miran's confirmation hearings were fast-tracked to make sure he can participate in the meeting."
Miran was approved by the Senate Banking Committee and confirmed with only Sen. Lisa Murkowski opposing among Republicans. Miran will fill Adriana Kugler's seat through January 2026 after her August resignation and will join the Fed's 12-member rate-setting board. The two-day FOMC meeting will include a vote on cutting the Federal funds rate. The Trump administration has applied pressure on Fed leaders and governors, including an attempt to remove Governor Lisa Cook that an appeals court temporarily blocked. Miran will take unpaid leave from his White House role and has pledged to act independently.
Read at www.housingwire.com
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