Trump’s Fed Nominee Stephen Miran Clears Senate Committee as Battle Over Rate Cuts Heats Up

The U.S. Senate has witnessed yet another clash between Republicans and Democrats over the future of the Federal Reserve. The nomination of Stephen Miran, Donald Trump’s pick for a vacant Fed board seat, advanced after a narrow vote in the Senate Banking Committee. The tally, 13–11, fell strictly along party lines – all Republicans in favor, all Democrats opposed.

A Timed Nomination Ahead of Key Rate Decisions The committee’s decision came just a week before the Fed’s next meeting on interest rates – a subject Trump has been hammering on for months. If Miran is confirmed by the full Senate, he will take his seat just in time to vote on potential rate cuts, something Trump has openly demanded. Miran is set to replace Adriana Kugler, who abruptly resigned in August without explanation. If confirmed, he will complete her term, which ends on January 31, precisely when critical decisions on rates are expected.

Disputes Over Independence Miran has pledged to take unpaid leave from his role on the Council of Economic Advisers if confirmed. Democrats, however, argue that isn’t enough – they want him to fully resign to avoid conflicts of interest. Announcing the nomination, Trump described it as a temporary measure until a permanent candidate is found. Still, Miran’s potential presence on the board could influence imminent decisions. On his Truth Social account, Trump lashed out at Fed Chair Jerome Powell:

“Powell is a complete disaster, he has no clue!!! We must cut rates VERY, right now!”

Lisa Cook Fights to Keep Her Seat At the same time Miran’s nomination advanced, legal battles raged over Fed Governor Lisa Cook, whom Trump attempted to remove last month over alleged mortgage fraud. Cook denies the accusations and has taken the case to court. U.S. District Judge Jia Cobb issued a temporary injunction blocking Trump’s administration from enforcing her removal. Cook will remain in office while the lawsuit proceeds. Her lawyer, Abbe Lowell, hailed the decision as vital to protecting the Fed’s independence from political interference. The White House, however, defended the move. Spokesperson Kush Desai said Cook faces “credible allegations” and argued her removal is necessary to restore confidence in the Fed.

Fed Caught Between Politics and Stability The battle over nominations and removals highlights the intense political pressure facing the Fed. While Trump pushes for immediate rate cuts, Powell and the board are striving to balance political demands with economic realities. 👉 The question now: will Trump succeed in installing his allies at the Fed in time to steer monetary policy, or will lawsuits and Democratic resistance block his path?

#TRUMP , #Fed , #FederalReserve , #LisaCook , #USPolitics

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