The White House is pushing to fast-track the nomination of Stephen Miran to the Federal Reserve Board in hopes of having him confirmed by the Senate in time for the board's two-day meetings in mid-September, Politico reported Tuesday.
Miran has been meeting with Republican members of the Senate Banking Committee, including Sen. Jim Banks, R-Ind., on Tuesday. Banks returned to Washington amid the summer recess in order to meet with Miran.
"It's so important that he is confirmed before the Federal Reserve's September meeting," said Banks, according to the report.
The Fed meets Sept. 16-17. The Senate is in recess until Sept. 2.
Miran had a call with Banking Committee Chair Tim Scott, R-S.C., last week and is scheduled for one-on-one meetings with senators in the coming days, according to the report.
"The White House has been aggressively pushing Dr. Miran's nomination to the Federal Reserve Board, setting the stage for his quick confirmation when the Senate returns in September," a White House official told Politico on Tuesday. "With the President's strong backing, there's clear momentum to get this done."
Trump nominated Miran, who is chair of his Council of Economic Advisers, to replace Adriana Kugler, who abruptly announced her resignation earlier this month. Miran would serve out Kugler's term, which expires on Jan. 31, 2026.
Miran's confirmation would give Trump an ally on the Fed's board of governors amid his ongoing dispute over interest rates with Fed Chair Jerome Powell, whose term ends in May 2026.
Last year, Miran and Dan Katz, a former senior adviser in the Treasury Department, published a paper through the Manhattan Institute arguing that the Fed succumbed to groupthink that resulted in policy errors, such as the 2021-2022 inflation surge.
Mark Swanson ✉
Mark Swanson, a Newsmax writer and editor, has nearly three decades of experience covering news, culture and politics.
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