Senate Clears Trump’s Fed Pick Miran; Cook Wins Appeal

- Senate panel narrowly approves Stephen Miran’s nomination for the Federal Reserve Board. - Fed Governor Lisa Cook secures temporary court ruling amid legal allegations. On September 10, 2025, Reuters reported that the Senate Banking Committee narrowly approved Stephen Miran’s nomination to the Federal Reserve Board in a 13–11 vote that fell strictly along party lines. All Republican senators backed Miran, while Democrats opposed the move. President Donald Trump nominated Miran, the current chair of the White House Council of Economic Advisers, to fill the vacancy left by Adriana Kugler’s resignation in August. If the full Senate confirms him, Miran will serve the remainder of Kugler’s term, which expires on January 31, 2026. This nomination comes as the Federal Reserve prepares for its next decision on interest rates, and President Trump has frequently advocated for rate cuts. Democrats raised concerns over Miran’s potential conflicts of interest, highlighting his decision to take an unpaid leave from his White House post instead of resigning. According to a Bloomberg report on September 10, Senator Elizabeth Warren called the arrangement "an obvious Trump loyalty test." In another development, a U.S. District Judge’s temporary ruling allowed Federal Reserve Governor Lisa Cook to retain her position, preventing her removal over mortgage fraud allegations. According to CoinDesk on September 10, Judge Jia Cobb determined the allegations were insufficient for dismissal and that the government had violated Cook’s due process rights during the removal process. Cook denies any wrongdoing and has argued through her lawyers that the claims are politically motivated. The ruling enables Cook to participate in the Federal Open Market Committee’s upcoming meeting and weigh in on key monetary policy decisions. Both events highlight the intensifying political scrutiny surrounding the Federal Reserve’s independence and U.S. monetary policy. If confirmed, Miran could push for interest rate cuts in line with Trump’s more accommodative economic strategy, while Cook's continued presence on the board ensures her input on critical decisions amid legal challenges.