Trump's Fed Fights Escalate: Senate to Vote on Controversial Nominee Stephen Miran

Fed Nominee Stephen Miran Sparks Controversy Amid Trump's Fed Fights The Senate is set to vote Monday night on the nomination of Stephen Miran to fill a vacancy on the Federal Reserve Board, amidst President Donald Trump's ongoing battles with the central bank. Miran, a top economic adviser to Trump, has been nominated to replace outgoing governor Adriana Kugler. According to sources, Trump has long pressured the Fed to lower interest rates, and in July floated the idea of firing Chairman Jerome Powell, whom he has publicly criticized as a "knucklehead" and "numbskull." In August, Trump attempted to fire Governor Lisa Cook, but a federal judge temporarily blocked the move last week. Mir an's nomination has sparked controversy among Democrats and some economists, who argue that his appointment would further politicize the Fed. "This is just another example of President Trump's attempt to undermine the independence of the Federal Reserve," said Senator Elizabeth Warren (D-MA). "Stephen Miran lacks the expertise and experience needed to serve on the Fed Board." However, supporters of Mir an argue that he has a deep understanding of economic policy and would bring a much-needed perspective to the board. "Stephen Mir an is a highly qualified individual with a strong background in economics," said Senator Ted Cruz (R-TX). "I believe he would be an excellent addition to the Fed Board." Mir an, who has been chair of the White House Council of Economic Advisers since March, has a reputation for being a strong advocate for Trump's economic policies. His nomination is seen as part of Trump's broader effort to exert more control over the Fed and its monetary policy decisions. The Senate vote on Mir an's nomination comes at a critical time, with the Fed facing increasing pressure from Trump to lower interest rates and stimulate economic growth. The outcome of the vote will have significant implications for the future direction of the Fed and its role in shaping the nation's economic policy. Background: Stephen Mir an was born in 1975 in New York City. He earned a bachelor's degree in economics from Harvard University and a master's degree in public policy from the Kennedy School of Government at Harvard. Before joining the White House Council of Economic Advisers, Mir an worked as a senior economist at the Federal Reserve Bank of New York. Additional Perspectives: Economists and experts have expressed concerns about Mir an's nomination, citing his lack of experience on monetary policy issues. "The Fed needs governors who understand the intricacies of monetary policy, not just politicians with a vested interest in Trump's economic agenda," said Mark Zandi, chief economist at Moody's Analytics. Current Status: The Senate is set to vote Monday night on Mir an's nomination. If confirmed, he would join the seven-member Fed Board and play a key role in shaping the nation's monetary policy decisions. Next Developments: The outcome of the vote will have significant implications for the future direction of the Fed and its role in shaping the nation's economic policy. *Reporting by Npr.*