Stephen Miran, chairman of the Council of Economic Advisers and US Federal Reserve governor nominee for US President Donald Trump, arrives for a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing in Washington, DC, US, on Thursday, Sept. 4, 2025.<\/p>\n
Daniel Heuer | Bloomberg | Getty Images<\/p>\n
Newly-confirmed Federal Reserve Governor Stephen Miran dissented from the central bank’s decision to lower the federal funds rate by a quarter percentage point<\/a> on Wednesday, choosing instead to call for a half-point cut.<\/p>\n Miran, who was confirmed by the Senate to the Fed Board of Governors on Monday, was the sole dissenter in the Federal Open Market Committee’s statement.<\/p>\n Governors Michelle Bowman and Christopher Waller, who had dissented at the Fed’s prior meeting in favor of a quarter-point move, were aligned with Fed Chair Jerome Powell and the others besides Miran this time.<\/p>\n The Fed’s so-called dot plot shows an unusually wide disagreement among FOMC participants on the number of rate cuts ahead, with some members seeing as many as four cuts in 2026.<\/p>\n Miran was selected by Trump<\/a> back in August to fill the seat that was vacated by former Governor Adriana Kugler after she suddenly announced her resignation without stating a reason for doing so. He has said that he will take an unpaid leave of absence<\/a> as chair of the White House’s Council of Economic Advisors rather than fully resign from the position.<\/p>\n Miran’s place on the board, which will last until Jan. 31, 2026 when Kugler’s term was due to end, has been viewed by critics<\/a> as a threat from Trump to the Fed’s independence, as the president has nominated three of the seven members.<\/p>\n Trump also said in August that he had fired Federal Reserve Board Governor Lisa Cook<\/a>. However, a federal appeals court ruled earlier this week that he cannot fire<\/a> her. The White House has said in response that it is going to appeal that ruling to the Supreme Court.<\/p>\n \u2014 CNBC’s Jeff Cox contributed reporting.<\/p>\n","protected":false},"excerpt":{"rendered":"Stephen Miran, chairman of the Council of Economic Advisers and US Federal Reserve governor nominee for US President…\n","protected":false},"author":3,"featured_media":234486,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[78,133,76,64,81,69,79,142,80,67,132,68],"class_list":{"0":"post-234485","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-breaking-news-economy","9":"tag-breaking-news-markets","10":"tag-breaking-news-politics","11":"tag-business","12":"tag-business-news","13":"tag-donald-trump","14":"tag-economy","15":"tag-jerome-powell","16":"tag-politics","17":"tag-united-states","18":"tag-unitedstates","19":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115221147527645177","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/234485","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=234485"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/234485\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/234486"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=234485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=234485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=234485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}