The Senate confirms the choice of Trump to the Fed board of directors before the voting of key interest rates

The US Senate has authorized the choice of President Donald Trump, Stephen Miran, to join the Governors’ Council of the Federal Reserve – which is part of a panel responsible for setting interest rates in the country.

Miran, who is chairman of the Council of Economic Advisors, will be the first manager of the White House that has been sitting to join the Fed board of directors since its creation in its current form in the 1930s.

He was just confirmed on Monday with a 48-47 vote.

The entry of the economist has raised concerns about the long -standing independence from the central bank and follows Trump’s attempt to reshape the federal reserve.

Miran is expected to participate in a political meeting of the Fed, this week, as one of the 12 members of the vote, playing a central role in Trump’s offer for a reduction in significant interest rates.

The Fed should approve a drop in the percentage point rate of a quarter to support a weakened labor market.

Miran is a supporter of Trump’s world prices, arguing that import duties will not inflation and that policies like strict immigration will reduce housing demand and drop in prices.

The accelerated confirmation vote of the White House economist took place in a few weeks, while it is generally necessary for a candidate of the Governor of the Fed to be confirmed by the Senate.

Senator Elizabeth Warren, a democrat, has feared that Miran is considered a “puppet” who would not trust an independent voice on the Fed board of directors.

Trump put pressure on the Fed for months, demanding interest rate drops to give the American economy a boost and make government cheaper to borrow.

The president targeted the president of the Fed, Jerome Powell, calling him “numbness” and “too late”.

Miran’s vote also occurs while Trump also tries to dismiss the governor of the Fed, Lisa Cook of the Central Bank, citing allegations of mortgage fraud and constitutional powers to withdraw it.

Cook, the first black woman to serve as Fed governor, denied allegations and continued to block her withdrawal.

She has voted in recent months to maintain interest rates this year.

On Monday, an American court of appeal rejected the request of the Ministry of Justice from lifting a previous decision to temporarily prevent Trump from withdrawing Cook.

The Trump administration also pursues surveys on mortgage fraud against Senator Adam Schiff and the Prosecutor General of New York Letitia James, both political antagonists of the president.