News: The Senate Banking Committee advanced the nomination of Stephen Miran to serve on the Federal Reserve Board on a party-line vote.
Democrats unanimously opposed Miran, who currently serves as the chair of the White House’s Council of Economic Advisers. Miran will not resign his White House post upon confirmation, instead taking a leave of absence.
Republicans, meanwhile, are racing to get Miran confirmed before the Fed meets next week. That would require a floor vote no later than Monday night. Republican Senate leadership thinks that will be possible with the chamber’s new rules in place.
