Senate confirms Trump nominee Stephen Miran to the Federal Reserve

Miran currently serves as the chairman of the Council of Economic Advisers. He will fill the remainder of a former governor's term, which is set to end in January.

WASHINGTON — The Senate voted Monday night to confirm Stephen Miran to the Federal Reserve Board, bringing it a step closer to President Donald Trump's vision as he pressures the central bank to lower interest rates.

He was confirmed in a 48-47 vote. Sen. Lisa Murkowski, R-Alaska, was the only Republican to vote against him. No Democrats crossed the aisle.

Miran, who is the chairman of the White House’s Council of Economic Advisers, has drawn criticism from Democrats over his past attacks on the Federal Reserve and for saying he plans to take an unpaid leave of absence from his White House role instead of resigning.

Miran has also staunchly defended Trump’s tariffs, arguing in August that “doom and gloom” expectation from tariffs “just hasn’t panned out.”

Trump has repeatedly criticized the central bank for not lowering interest rates as he would like. He has frequently slammed Fed Chair Jerome Powell as "too late," despite having appointed Powell during his first term. Powell's term is set to expire next year.