The Senate voted 48-47 to confirm the nomination of economist Stephen Miran for an open seat on the Federal Reserve board.
Miran is currently chair of the Council of Economic Advisers. President Trump nominated Miran to fill a board seat previously held by former Fed Governor Adriana Kugler, who stepped down last month. Miran will serve out the remainder of Kugler’s term, which ends early next year.
The Federal Open Market Committee will hold its next regularly scheduled two-day meeting on Tuesday and Wednesday.
American Bankers Association President and CEO Rob Nichols congratulated Miran on his confirmation.
“Dr. Miran brings a range of experience in economic policy and financial markets to the position, and his perspective will be a valuable addition to the Fed’s discussions on both economic and regulatory matters,” Nichols said. “We look forward to working with Dr. Miran and his colleagues on the board to ensure that banks of all sizes can continue to play their critical role powering the U.S. economy and supporting their customers and communities.”
