Tensions Rise Over Stephen Miran's Fed Nomination: A Battle for Influence

Stephen Miran, a key economic adviser under President Trump, edged closer this week to becoming a Federal Reserve governor. His advancement marks a strategic move by Trump to assert more control over the central bank's decision-making on interest rates and economic policy.

The Republican-led Senate Banking Committee voted along party lines, 13-11, moving Miran's nomination forward to a full Senate vote. Despite the likelihood of his confirmation due to a Senate Republican majority, doubts remain about whether he can participate in the upcoming policy meeting.

Alongside Miran's potential swearing-in, the political landscape is further complicated by President Trump's bid to remove Fed Governor Lisa Cook over alleged misconduct, which she contests in court. These events underscore the ongoing tension regarding the Fed's independence amid political pressures.