Washington DC - The Senate Banking Committee on Wednesday advanced the nomination of President Donald Trump's choice to join the Federal Reserve board, despite concerns that he might not quit his White House position even if confirmed.

Stephen Miran, who chairs the White House Council of Economic Advisers, passed the committee's vote by 13-11, with Democratic lawmakers opposing the advancement.

The vote clears the path for his full Senate confirmation, meaning that he could be in place on the central bank's rate-setting Federal Open Market Committee by its next meeting on September 16-17.

Senator Elizabeth Warren, the top Democrat on the banking committee, warned that Miran's nomination "sets up an obvious Trump loyalty test."

JD Vance JD Vance tells ex-congressman Matt Gaetz he'd like to send troops into every US city

JD Vance Newsom viciously trolls JD Vance as VP faces backlash over Trump-Epstein denial

Trump has ramped up pressure on the independent Fed to slash interest rates in recent months, and Warren argued that Miran's votes on rate decisions could determine if he is able to return to his White House job after his stint at the bank.

If confirmed, Miran fills a short-term Fed vacancy for slightly over four months until January 2026.

Due to the short stint, Miran told the Senate Banking Committee last week that he only planned to take a leave of absence from the CEA if confirmed to the bank, but after more questions, he said that he would step down if nominated and confirmed for a longer Fed term.

After his hearing, Democratic lawmakers issued a letter to Miran arguing that his actions as a Fed governor would be questioned as a move "to satisfy the demands of the President" and retain his White House position.

Warren also expressed fears that he has not committed to resigning from the Fed at the end of his shortened term if confirmed.

The seven members of the Fed's board of governors are among the 12 voting members of the central bank's rate-setting FOMC.

Since its last interest rate cut in December, the Fed has held rates steady this year as officials monitored the effects of Trump's sweeping tariffs on inflation.