Who is Fed nominee Stephen Miran, and why is he so controversial?

Rachel Treisman

September 15, 2025 / 10:39 am

The Senate is set to vote Monday night to fill a vacancy on the Federal Reserve Board, the seven-member body that sets the nation's monetary policy and has found itself increasingly under attack by President Trump.

Trump has long pressured the Fed to lower interest rates, and in July floated the idea of firing Federal Reserve Chairman Jerome Powell — whom he has attacked as a " knucklehead " and " numbskull " — for not doing so. In August, Trump escalated his fight against the Fed by attempting to fire governor Lisa Cook , a move that a federal judge temporarily blocked last week.

It's against this backdrop that Fed governor Adriana Kugler unexpectedly stepped

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