The Senate is expected to vote tonight to confirm President Donald Trump’s pick to join the Federal Reserve, Stephen Miran, less than a day before the central bank kicks off its next meeting.
Miran, who will serve out former Fed Governor Adriana Kugler’s term, has said he does not plan to resign from his White House role — an unusual move The Wall Street Journal’s editorial board on Sunday argued “the GOP might regret … next time there’s a Democratic President.”
He’ll get to weigh in this week on whether policymakers decide to cut interest rates — as will Fed Governor Lisa Cook after a federal judge blocked Trump from removing her. A 2021 document reviewed by Reuters shows Cook told her credit union that she would not use an Atlanta condo as her primary residence, which runs counter to the administration’s allegations that she committed mortgage fraud.