Senate Committee Votes to Advance Trump's Fed Nominee Miran

(MENAFN) The US Senate Banking Committee has voted to advance the nomination of White House economic advisor Stephen Miran to a seat on the Federal Reserve Board, with the decision splitting along strict party lines. The committee’s 13-11 vote saw all Republicans in favor and all Democrats opposed, reflecting the deep partisan divide surrounding the pick. Miran’s name will now go before the full Senate, where his confirmation is widely anticipated.

Miran, a Harvard-trained economist, has been a key figure in the Trump administration’s economic policy. He currently chairs the White House Council of Economic Advisers and previously held a position at the Treasury Department during President Trump’s initial term. Throughout his tenure, he has emerged as a staunch advocate for and public defender of the administration’s trade and tax policies.

His nomination has sparked debate among lawmakers and economists. Supporters praise his experience and alignment with the administration's pro-growth agenda, while critics have raised concerns about his political background and its potential impact on the independence of the Federal Reserve, a body traditionally seen as non-partisan. The partisan nature of the committee vote underscores these broader political tensions, as the White House continues to shape the leadership of the nation’s central bank.

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