The US Senate is due to vote late Monday on the confirmation of President Donald Trump’s choice to join the Federal Reserve’s board — as the clock ticks down to a key policy meeting.
If confirmed, Stephen Miran, who chairs the White House Council of Economic Advisers (CEA), would join the Fed as one of 12 voting members on a panel that sets interest rates steering the world’s biggest economy.
Policymakers on the rate-setting Federal Open Market Committee are due to begin their next two-day meeting on Tuesday morning.
The swift moves to confirm Miran come as Trump has intensified pressure on the independent central bank to slash interest rates, often citing benign inflation figures in doing so.
And the president has taken other actions that critics worry would threaten the bank’s indepe