"A Senate committee on Wednesday approved the nomination of White House economic adviser Stephen Miran to the Federal Reserve's board of governors, setting up a likely approval by the full Senate, which would make Miran the third Trump appointee to the seven-member board."
"that he would keep his job as head of the White House's Council of Economic Advisers while on the Fed's board, a historically unusual arrangement. Presidents have nominated members of their staffs to the Fed's board before, but the nominees have always given up their White House jobs. Trump has hoped to gain a majority on the Fed's board as part of his efforts to push the central bank to rapidly cut its key interest rate. Yet late Tuesday his goal was dealt a setback"
A Senate committee approved Stephen Miran's nomination to the Federal Reserve board, making him likely to receive full Senate confirmation and become the third Trump appointee on the seven-member board. The White House sought expedited approval to allow Miran to finish former governor Adriana Kugler's term, which expires in January. Approval could occur before the Fed's upcoming meeting, when a rate cut is expected. The committee vote was 13-11 along partisan lines. Miran said he would retain his role as head of the White House Council of Economic Advisers while serving on the Fed, raising concerns about political influence and institutional independence.
Read at Fast Company
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