Senate Confirms Stephen Miran to Fed Board; Appeals Court Blocks Effort to Remove Lisa Cook

The Senate on Monday confirmed President Trump’s nominee, Stephen Miran, to the Federal Reserve’s Board of Governors by a 48-47 vote, as an appeals court denied the president’s bid to remove Federal Reserve Governor Lisa Cook ahead of a key meeting on interest rates.

Miran, the White House Council of Economic Advisers chairman, was tapped to replace Adriana Kugler, a Biden appointee who abruptly stepped down last month. Miran will serve out the remainder of Kugler’s term, which runs through Jan. 31, 2026. Sen. Lisa Murkowski, R-Alaska, joined all Senate Democrats in voting against the nomination.

The confirmation narrows the margin among policymakers on the Fed’s Board of Governors and adds a Trump administration voice to the central bank’s leadership during a period of heightened attention to U.S. monetary policy. The Senate vote reflected the closely divided partisan posture in recent nominations to economic posts.

Separately, an appeals court rejected the administration’s attempt to remove Cook from the Fed’s board. The decision preserves Cook’s membership on the board ahead of a meeting in which Federal Reserve officials will consider the path for interest rates. The court’s ruling means Cook can participate in upcoming deliberations and votes.

Cook, a sitting governor who has faced scrutiny and legal challenges, attended a Federal Reserve open meeting in Washington in June, underscoring the timing of the judicial decision relative to the Fed’s policy calendar. The appeals court action and the Senate confirmation occurred on the same day, leaving the board’s composition largely intact in the near term.

Miran’s confirmation follows his service as chair of the Council of Economic Advisers, where he advised the White House on economic policy. His assignment to fill out the remaining months of Kugler’s term means a future White House or Senate could nominate a different candidate once that term expires. Kugler’s sudden departure last month created the immediate vacancy Miran will occupy.

The Federal Reserve’s seven-member Board of Governors plays a central role in informing the Federal Open Market Committee, which sets U.S. monetary policy. Changes in board membership can affect the balance of viewpoints on inflation, unemployment and interest-rate strategy, particularly when votes are closely contested.

Both developments come as markets and policymakers watch for signals on the Fed’s next moves on interest rates. The presence of a confirmed governor from the current administration and the retention of an existing governor via the appeals court decision mean the board will enter upcoming meetings with those memberships settled, at least for the near term.

The White House and Senate aides did not immediately provide extended commentary beyond the vote tally and the court’s public order. Neither the appeals court’s written opinion nor additional filings were immediately available for further detail.

The confirmation and the court ruling are both likely to draw attention from lawmakers, market participants and academic observers as the Fed prepares for its next rate-setting discussions. The situation remains dynamic, and additional legal filings or administrative steps could follow as stakeholders respond to the appeals court’s rejection of the removal effort and as the new governor assumes his duties.