The new Fed governor is President Trump's nominee.

(Dan Tri) - The US Senate has just approved Mr. Stephen Miran as a member of the Board of Governors of the Federal Reserve (Fed).

Stephen Miran will temporarily replace Adriana Kugler, who abruptly resigned last month. Miran's confirmation was approved by the US Senate at a meeting on September 15.

Miran is currently chairman of the White House Council of Economic Advisers. He retains that position, but is on unpaid leave while working at the Fed.

Mr. Miran is currently serving as Chairman of the Council of Economic Advisers at the White House, but he will take "unpaid leave" while working at the Fed.

Currently, the Board of Governors is the highest leadership body of the Fed, consisting of 7 members responsible for setting monetary policy, supervising banks and ensuring national financial stability. President Donald Trump nominated Mr. Miran to this position in August, shortly after Ms. Kugler resigned.

It took Mr. Miran just under six weeks to be accepted to the Fed Governor position, while the usual process can take several months.

The Fed's next meeting is September 16-17. Investors are almost certain the agency will cut interest rates by another 0.25%, given the recent weakness in the labor market.

However, analysts predict that Miran may even oppose and support a larger reduction. Since the beginning of his term, the US President has called for the Fed to cut interest rates sharply, up to several percentage points.

Mr. Stephen Miran was approved to the Fed Board of Governors after just under 6 weeks (Photo: NPR).

Mr. Miran has long supported President Trump’s import tariffs, which he has argued do not cause inflation.

The Fed has not adjusted interest rates since the beginning of the year. Previously, the agency had two members who supported lowering interest rates, Michelle Bowman and Christopher Waller, both nominated by President Trump during his first term.

At the July meeting, both voted against keeping rates unchanged. Experts said this was the first time in more than 30 years that the Fed recorded two members of the board of governors dissenting from a joint decision.

This time, analysts predict they will continue to oppose a 25 basis point cut in favor of a 50 basis point cut. If this happens, it will be the first time since 1988 that three Fed governors have opposed a joint decision.

Source: https://dantri.com.vn/kinh-doanh/thong-doc-moi-cua-fed-la-nguoi-tong-thong-trump-de-cu-20250916123359187.htm