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."
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