The Senate Banking Committee voted Wednesday to advance the nomination by President Donald Trump of Stephen Miran, a top White House economic advisor, to become Federal Reserve governor for at least the next several months.
The 13-11 vote along party lines came a day after a federal judge in Washington, D.C., temporarily blocked Trump from firing another Fed governor, Lisa Cook, while her lawsuit challenging his removal of her plays out in court.
And it came a week before the Fed board is set to meet to discuss possibly cutting interest rates, as Trump has demanded it do for months.
Every Republican on the Banking Committee voted to send Miran’s nomination to the full Senate, and every Democrat voted no on that question.
Trump tapped Miran, the chair of the Council of Economic Advisors, to replace Adriana Kugler, who unexpectedly resigned in August. Kugler has given no reason for her departure from the seven-member board.
