SENATE DRAMA 51-45 Vote Gives President Donald Trump One of Biggest Wins of His Presidency

The position fills the seat previously held temporarily by Stephen Miran, a Trump aide who took a leave from the White House Council of Economic Advisers to serve on the Fed after an early resignation created the vacancy. Miran’s term officially expired in January but he remained on the board until a replacement was confirmed. Miran became known for consistently advocating lower interest rates during his time on the Federal Open Market Committee.

Warsh’s term as a Fed governor will run until 2040.