Federal Reserve governor nominee Stephen Miran is set for a Senate Banking Committee vote on Wednesday, a step that could allow him to join the Federal Open Market Committee (FOMC) September 16–17 policy debate on rate cuts.

Miran, currently serving as a White House economic adviser, was tapped by President Trump to replace Adriana Kugler, whose board term runs until January 2026 but has been vacated early.

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Miran’s confirmation would tilt the Fed’s September debate more dovish, reinforcing market expectations for rate cuts. That backdrop may weigh on the USD and support Treasuries, though investors will watch the Senate vote closely for any delays or pushback that might complicate the Fed’s near-term policy path.