The US Senate Banking Committee has advanced the nomination of Stephen Miran to a temporary position on the Federal Reserve Board of Governors after the resignation of another member in August. The committee voted 13 to 11 along party lines to send his nomination to the full Senate for consideration, with all Democrats voting against Miran and the Republican majority supporting him. Miran, who previously served in the Trump administration and indicated his support for digital assets, stated during a hearing that he would not resign from his White House advisory role if confirmed as a Fed governor beyond January. His nomination coincides with ongoing legal challenges stemming from Trump's attempts to dismiss another Fed governor, highlighting ongoing tensions regarding independence within government agencies. Future discussions by the Federal Reserve are expected to cover essential topics, including stablecoins and payment innovations.

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