Senate Panel Advances Stephen Miran’s Fed Nomination Amid Political Divide

The Senate Banking Committee voted 13-11 to advance Stephen Miran's nomination to the Federal Reserve, with Republicans unanimously supporting and Democrats opposing the move. The decision comes just seven days before the FOMC's critical rate-setting meeting, where President TRUMP has publicly demanded aggressive easing.

Miran, currently chairing the Council of Economic Advisors, WOULD fill the vacancy left by Adriana Kugler's unexplained August departure. His potential confirmation would grant him voting power for January's pivotal rate decision - precisely the policy shift Trump has championed through Truth Social posts declaring 'must lower the RATE, BIG, right now.'

Controversy surrounds Miran's proposed unpaid leave from the CEA rather than full resignation, drawing Democratic criticism. The nomination follows a federal judge blocking Trump's attempted removal of Governor Lisa Cook, creating parallel battles over Fed governance during a sensitive policy transition period.