By Blessing Nweke

The U.S. Senate has narrowly confirmed President Donald Trump’s nominee, Stephen Miran, to the Federal Reserve’s Board of Governors in a 48-47 vote, marking a significant reshaping of the nation’s top monetary authority. Miran, who currently chairs the White House Council of Economic Advisers, becomes the first sitting White House official to join the Fed’s board since its modern formation in the 1930s.

His fast-tracked confirmation comes just days before a key Federal Reserve policy meeting, where Miran will participate as one of 12 voting members. The Fed is widely expected to approve a quarter-point interest rate cut to support a cooling labor market—an outcome aligned with Trump’s ongoing push for aggressive monetary easing ahead of the 2026 election cycle.

Miran’s appointment has drawn sharp criticism from Democrats, who argue it undermines the Fed’s traditional independence. Senator Elizabeth Warren warned the move risks turning the central bank into a political tool, calling Miran a potential “puppet” for Trump’s agenda.

An advocate of Trump’s protectionist trade policies, Miran has defended tariffs and stricter immigration rules, claiming they help curb inflation and reduce housing costs.

His confirmation arrives amid broader efforts by Trump to assert influence over the Fed. The president has openly attacked Fed Chair Jerome Powell, labeling him a “numbskull,” and is now attempting to oust Fed Governor Lisa Cook, the first Black woman on the board, citing unproven mortgage fraud claims. A U.S. appeals court on Monday temporarily blocked her removal.

The Trump administration is also pursuing separate fraud investigations against political opponents including Senator Adam Schiff and New York Attorney General Letitia James, intensifying partisan tensions as Trump seeks to reshape the country’s economic institutions.