Washington DC - President Donald Trump's economic adviser Stephen Miran has been confirmed as a temporary member of the Federal Reserve's board of governors, despite concerns about his independence.

On Monday evening, the Senate narrowly approved his appointment. Miran will take over the position held by outgoing Fed governor Adriana Kugler until the end of January 2026.

The vote to confirm Miran comes just hours before a two-day Federal Reserve meeting, where policymakers are set to review the key interest rate. Analysts expect a possible cut after recent signs of a slowing US labor market.

Miran, who also chairs the White House Council of Economic Advisers, could push for further rate reductions, echoing Trump's long-standing calls for lower borrowing costs.

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At a previous hearing, lawmakers had questioned whether Miran would act independently of Trump. Democratic Senator Elizabeth Warren called him Trump's "puppet," warning that neither the public, investors, nor global markets would trust him as an independent voice. Miran, however, pledged to uphold the central bank's independence.

The vacancy opened in August when Fed board member Kugler unexpectedly resigned.

Trump quickly saw an opportunity to appoint one of his confidants, having spent months pushing unsuccessfully for interest rate cuts that Fed chair Jerome Powell has so far refused to grant. He argues that high rates make housing unaffordable and that loans on better terms could help stimulate the economy.

However, rates that are too low could further fuel inflation. Powell has maintained a more restrictive stance, which has drawn relentless attacks from Trump.

The president also attempted to remove Fed board member Lisa Cook in August, but has since suffered successive legal defeats in that effort.