We had the heads up on the likelihood of this yesterday:
- Miran is Trump's pick to step onto the Federal Reserve Board to replace the recently resigned Kugler.
- Miran is expected to be approved by the full Senate vote along party lines.
- This should get Miran onto the Federal Open Market Committee (FOMC) meeting on September 16 - 17. A 25bp rate cut is widely expected, whether Miran takes his seat on FOMC by then or not.
The US Senate for Monday now confirms the vote will be held. In fact, there will be plenty of voting. Via NBC:
- Republicans triggered the "nuclear option" to change the rules of the Senate on a party-line basis Thursday, a move that will allow them to speed up confirmation of President Donald Trump's nominees for key executive branch positions. The vote was 53-45 to establish a new rule that allows the Senate to confirm an unlimited number of nominees en bloc, rather than process each one individually.
