Senate confirms Stephen Miran to Fed board as rate decision nears

The Senate confirmed Stephen Miran to the Federal Reserve board late Monday, setting up a high-stakes vote on interest rates this week even as a court fight over another governor’s removal ensured both a Trump appointee and an embattled Fed official would attend the central bank’s policy meeting. The full Senate approved Miran, President Donald Trump’s chair of the Council of Economic Advisers, by a 48-47 roll call; Alaska Republican Lisa Murkowski joined Democrats in opposing him.

Miran, 42, was sworn in Tuesday to fill the remainder of Adriana Kugler’s unexpired term, which runs to early next year. His confirmation adds another Trump ally to the Fed’s seven-member board and gives the White House an immediate vote as the Federal Open Market Committee meets Tuesday and Wednesday to consider its first rate move after a long pause. Markets have largely priced in a quarter-percentage-point cut, but officials and analysts say Miran could press for a larger reduction.

At his confirmation hearing, Miran pledged to uphold central bank independence, telling senators, "If confirmed, I plan to dutifully carry out my role pursuant to the mandates assigned by Congress. My opinions and...