New Federal Reserve governor Stephen Miran could play a key role in next month’s monetary policy decision, since the committee is split on whether to cut interest rates.
Miran, who was appointed this fall by President Donald Trump to fill an open seat on the Fed board, has voted against the Fed’s decision to lower interest rates by a quarter of a percentage point at the last two meetings. He instead has said he preferred a larger half-percentage-point cut, more in line with Trump’s desire to see the Fed’s target rate fall quickly. But now, given a divided Fed, he could end up being a critical, or even tiebreaking, vote.
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