Will the Fed member make it to the meeting: The Senate gave approval at night.

Stephen Miran, who was proposed to join the board in place of Adriana Kugler, who left the Fed in August, has received approval from the U.S. Senate.

The approval is on the verge of completion

Last week, Miran, who received approval from the Senate Banking Committee and moved on to the general voting phase, had a fiercely contested Senate vote regarding his Fed membership. The Senate passed Miran's Fed membership by a vote of 48 to 47.

Surprised but received support

Miran surprised even the Republican senators who supported him with some statements he made last week. During the confirmation hearing in the Senate, Miran stated that he would not resign from the chairmanship of the White House Economic Advisors Council (CEA), but instead would take a leave of absence.

Although this situation surprised the Republican Party members who supported him, the support continued. US media wrote that the reason for the support was Miran's short-term membership in the Fed.

Initially, Miran's task is to fill the position left by Kugler, and Republicans are providing support due to him being in office until January 2026, despite these statements they did not see any issues.

In fact, Republican figures like Thom Tillis stated that he would not support him if he runs for a longer-term Fed membership.

It is also known that Miran has made some comments suggesting that the Fed is late in its interest rate cuts. Therefore, there will now be one more person voting in favor of the cuts.

Miran's name is also mentioned for the Fed chairmanship after Powell.

Published: September 16, 2025 08:33Last Updated: September 16, 2025 08:37