Trump advisor narrowly confirmed for key Federal Reserve role

Stephen Miran, an economic advisor in the Trump administration, narrowly secured enough votes to be confirmed as the next Federal Reserve Governor, according to a new report.

Reuters reported on Monday night that Miran was confirmed by a 48-47 vote in the Republican-controlled Senate. He replaces Adriana Kugler, who resigned from the central bank in August.

Miran's appointment could go a long way toward helping Trump achieve his goal of lowering interest rates, according to experts.

Reuters also noted the speed at which Miran was confirmed.

"It typically takes months for a Fed governor nominee to be confirmed by the Senate; in Miran's case it took fewer than six weeks," according to the report."