The Senate voted to confirm Stephen Miran’s nomination to the Federal Reserve Board of Governors, providing a win for President Donald Trump as he seeks to revamp the central bank’s powerful committee that determines the course of U.S. monetary policy.

The final vote was 48-47 in favor in confirmation. No Democrats voted yea. Lisa Murkowksi, R-Alaska, was the lone Republican to cast a nay vote.

Miran fills the recently vacated seat of Adriana Kugler, who abruptly resigned in August. The temporary term ends Jan. 31, 2026.

It is unclear, however, if Miran can clear the additional logistical hurdles required for him to formally be installed on the Fed’s board prior to the upcoming Federal Open Market Committee (FOMC) meeting, which begins Tuesday. Despite the Senate confirmation, Miran still needs to complete paperwork and take the oath of office.

It is also uncertain if Miran has time to submit his summary of economic projections to be included in the Fed’s “dot plot,” a quarterly chart that tracks each FOMC member’s future interest rate expectations.

Prior to the vote, Sen. Jack Reed, D-R.I., gave a lengthy speech on the Senate floor expressing his concerns over Miran’s nomination — particularly regarding Miran’s stated intention to take a leave of absence from his position as chair of the White House Council of Economic Advisers instead of cutting ties with the Oval Office.

“Dr. Miran will now have one foot in the Fed and the other foot in the White House,” Reed said. He added that Miran “will be making a mockery of the law by refusing to relinquish his White House job.”

Other Democratic critics of Miran have also argued that his role as a top White House adviser compromises his ability to remain independent of political sway.

Sen. Elizabeth Warren, D-Mass., went as far as calling Miran a “puppet” of Trump during a contentious Senate Banking Committee hearing on Sept. 4.

Miran denied that claim under subsequent questioning from Sen. John Kennedy, R-La.

“I’ve very independently minded, as shown by my willingness to stray from consensus and have out-of-consensus views, and I believe that I will continue to be as independent in my thinking process if confirmed,” Miran stated during the hearing.

Miran’s past writings have argued for Fed reform. In 2024, he co-authored a Manhattan Institute report that advocated for making the Fed’s annual operating budget subject to a congressional appropriations process instead of its current independent funding from income-bearing investments.

Miran represents Trump’s third appointment to the Fed’s seven-member governing board, all of whom are also part of the FOMC. The remaining members of that rate-setting committee rotate between the heads of Federal Reserve banks in major U.S. cities.