The US Senate has confirmed Stephen Miran, a supporter of the Trump Administration’s tariff policy and “crypto-friendly economist,” to join the Federal Reserve Board of Governors.
The vote approving Miran took place Monday, September 15, 2025, and comes just ahead of the central bank’s interest rate meeting this week, perhaps impacting the FOMC’s decision.
The Senate vote was along party lines, with 48 senators endorsing Miran’s nomination and 47 opposing it, and five not voting.
Miran holds a degree in Economics from Boston University and a doctorate from Harvard. He served in the last Trump Administration as a senior advisor for economic strategy at the US Department of the Treasury.
Miran, a former senior strategist at Hudson Bay, an investment firm actively involved in trading claims tied to the FTX bankruptcy filed in late 2022, brings a unique perspective to the Federal Reserve.
Proponents of Miran’s nomination argue that his expertise in emerging financial technologies could help the Federal Reserve adapt to the evolving landscape of digital currencies and blockchain-based systems. They view his appointment as a forward-thinking step to ensure the central bank remains relevant in an era of financial innovation.
Senator Tim Scott, Chairman of the Senate Banking Committee, called the approval of Miran 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. 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.”
Miran said that during his tenure at the Fed, he will do his best to “provide rigorous, independent analysis aimed at achieving the Fed’s statutory mandates.”
Miran was sworn in today (September 16, 2025) as a member of the Board of Governors of the Federal Reserve System.
