Main to remember
- Stephen Miran, Trump candidate for the Governor of the Federal Reserve, is planned for a Senate confirmation hearing on September 4.
- Miran’s confirmation is likely, despite the opposition, before the key meeting for the reservation of the rates of the federal reserve.
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The Senatoric Banking Committee will hold a confirmation audience for Stephen Miran, Trump candidate for the Federal Reserve Board, on September 4, while the administration aims to accelerate its approval before the next collection of central bank policies.
Miran, currently chairing the Council of Economic Advisors and known for its pro-Crypto position, was chosen by Trump to take over the Fed’s headquarters left by Adriana Kugler earlier this month.
The Treasury Secretary Scott Bessent and other administration officials put pressure for Miran’s confirmation before the Fed meeting from September 16 to 17, and the Senate led by the Republicans should approve it despite potential democratic opposition.
Miran previously obtained confirmation from the Senate this year as President of the Council of Economic Advisers with an online vote of Party of 53-46, no Republican opposing his appointment.
Democrats, although unable to block the appointment independently, are likely to question Miran on the rejection by Trump of the Fed governor, Lisa Cook and tries to put pressure on the central bank to reduce interest rates.
The Republican senators, including John Kennedy of Louisiana, who defended the president of the Fed, Jerome Powell, could also examine the position of the candidate on the independence of the Fed.
If Miran joins the Federal Reserve Board, it is likely to argue with force for interest rates and lower political positions in accordance with President Trump’s agenda.
In his role as governor, Miran would vote directly on interest rate decisions, amplifying the dominant influence and shaped the results in meetings where the committee is divided.
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