Stephen Miran, President Donald Trump’s nominee to be chairman of the Council of Economic Advisers, sits on the day he testifies during a Senate Banking, Housing and Urban Affairs Committee confirmation hearing on Capitol Hill in Washington on Feb. 27, 2025. Annabelle Gordon/Reuters
Commentary
Last Wednesday, the Federal Open Market Committee (FOMC) cut key interest rates by 25 basis points (0.25%). The 11-to-1 vote was widely anticipated, and the sole dissenter was the newest FOMC member, Trump nominee Stephen Miran, who voted against the 0.25% because he favored a larger (0.50%) cut.
