WASHINGTON—Stephen Miran, a senior White House economic adviser, cleared a key hurdle Wednesday in his bid to join the Federal Reserve Board of Governors, advancing President Donald Trump’s push to wield greater influence over interest rate policy and the central bank’s direction, Reuters reported.
The Senate Banking Committee, divided along party lines, voted 13-11 to move Miran’s nomination to the full Senate. Every Republican supported the nomination, while Democrats unanimously opposed it, Reuters said.
Reuters noted that lawmakers cautioned that it remains uncertain whether the confirmation process will conclude in time for Miran to take part in the Fed’s Sept. 16–17 policy meeting.