Stephen Miran, President Donald Trump’s nominee to the Board of Governors of the Federal Reserve System, was sworn into office on Tuesday, Sept. 16.
Miran was confirmed by the U.S. Senate on Sept. 15 in a 48-47 vote. His term will run through Jan. 31, 2026. Prior to his appointment to the board, Miran served as a chair of the Council of Economic Advisers under Trump, as well as working as a senior strategist at Hudson Bay Capital Management, and as a senior fellow at the Manhattan Institute for Policy Research. Miran served as the senior advisor on economic policy at the U.S. Department of the Treasury between 2020 and 2021. He has also worked in the financial markets.
Miran received his BA in economics, philosophy and mathematics from Boston University, and his PhD in economics from Harvard University. Trump nominated Miran in August when Adriana Kugler unexpectedly resigned. The opening on the seven-member board gave Trump the opportunity to fill the seat with someone who agrees with his push to lower interest rates.
U.S. Sen. Tim Scott (R-SC) said Miran’s appointment was a “win” for the American people.
“He brings deep experience, proven leadership, and a clear commitment to ensuring the American economy remains strong and competitive,” Scott said in a statement. “I am confident Dr. Miran will act in an independent manner, and that he will prioritize monetary policy decisions which will foster growth, investment, and opportunity in South Carolina and across this great nation.”