MNI BRIEF: Fed Nominee Miran Clears Senate Banking Committee

The Senate Banking Committee voted Wednesday morning to advance the nomination by President Donald Trump of Stephen Miran, a top White House economic advisor, to become Federal Reserve governor for at least the next several months. The vote was 13 to 11, with no Democrats supporting the nomination. 

Miran's nomination now moves to the full Senate for consideration. The vote comes a day after a federal judge in Washington, D.C., temporarily blocked Trump from firing another Fed governor, Lisa Cook, while her lawsuit challenging his removal of her plays out in court.

Trump tapped Miran, the chair of the Council of Economic Advisors, to replace Adriana Kugler, who unexpectedly resigned in August. Kugler has given no reason for her departure from the seven-member board. (See MNI INTERVIEW: U.S. Growth And Jobs Poised For Rebound, CEA Chair Miran Says)