Miran Sworn in as Federal Reserve Board Member, In Time for Interest Rate Meeting

The Federal Reserve announced in a statement that Stephen Miran was sworn in as a member of the Federal Reserve Board of Governors on Tuesday, September 16, paving the way for him to attend this week's highly anticipated Federal Reserve Interest Rate Committee meeting.

Miran was nominated by President Trump to serve until January 31st of next year. His nomination was confirmed by the Senate on Monday evening, September 15th, in a largely party-line vote. He has been criticized by Democrats for remaining in his position as Chairman of the White House Council of Economic Advisers, a position he is currently on unpaid leave.

Despite the unusual arrangement, Miran has stated that he will act independently at the central bank, based on his analysis of the economy and economic policy.

The Federal Open Market Committee meeting began as scheduled at 10:30 a.m. on Tuesday, September 16th. Officials are expected to cut interest rates by 25 basis points at this meeting. This would be the first rate cut since 2025.

A Fed spokesperson said Miran was attending the meeting. Also present was Lisa Cook, the Fed governor the president is trying to remove. On Monday evening, September 15, an appeals court ruled that Cook can continue to serve while the lawsuit challenging Trump's move proceeds.

A White House official has said the removal battle will be taken to the U.S. Supreme Court, but did not immediately provide a timeline for the next phase of the case.