Senate Republicans are aiming to confirm President Donald Trump’s temporary Federal Reserve pick as soon as Monday, according to two people granted anonymity to discuss internal plans.
The Senate Banking Committee advanced Stephen Miran’s nomination to the Fed’s Board of Governors on Wednesday along party lines.
It gives Republicans a tight timeline to get him seated ahead of a two-day meeting that will start Tuesday morning. While Miran’s vote alone won’t be decisive, the administration has been eager to have him confirmed in time for the meeting, allowing him to take part in a crucial discussion about interest rates.
Fed Chair Jerome Powell has signaled that the central bank will cut rates at the meeting, but there is an open question about how dramatic a move it will make.
