The Swamp is desperately trying to hold on to power. But there isn’t any stopping this bombshell.
Because Trump’s plan to axe a key figure leaves a massive power vacuum.
Trump’s Bold Fed Pick Challenges the Status Quo
President Trump’s sharp-eyed choice for Federal Reserve Governor, Stephen Miran, isn’t mincing words: the Fed’s stubborn holdout on deeper rate cuts is putting American jobs in jeopardy.
Fresh off his Senate confirmation, Miran made waves in his debut speech at the Economic Club of New York, calling out the central bank’s overly tight policy as a direct threat to workers. It’s a gutsy stand from the former Trump economic adviser, who just last week pushed for a hefty 50-basis-point slash—only to be overruled by the pack led by Chair Jerome Powell.
Miran’s no stranger to bucking the establishment. As the lone dissenter among the Fed’s 12 decision-makers, he didn’t hold back: “It should be clear that my view of appropriate monetary policy diverges from those of other Federal Open Market Committee members.” And he’s got the receipts:
“I view this policy as very restrictive and I believe it poses material risk to the Fed’s employment mandate… I believe the appropriate funds rate is in the mid 2% area, almost two percentage points lower than the current policy… leaving short-term interest rates roughly 2 percentage points too tight risks unnecessary layoffs and higher unemployment.” Trump’s vision for a pro-growth Fed is shining through here, prioritizing real people over ivory-tower caution.
Senate Showdown and Trump’s Fed Overhaul
The Senate’s razor-thin 48-47 vote to confirm Miran—despite Sen. Lisa Murkowski crossing the aisle to join Democrats in opposition—highlights the fierce resistance to Trump’s push for a more responsive central bank.
Stepping in for Biden holdover Adriana Kugler, who bailed last month, Miran will wrap up her term through January 31, 2026, bringing fresh energy to a board that’s been dragging its feet on easing borrowing costs for everyday Americans.
This isn’t happening in a vacuum. Trump’s been on a mission to swap out Fed insiders who prioritize inflation hawks over job creators, including his recent bid to oust Governor Lisa Cook amid mortgage fraud allegations.
While courts have slowed that effort, Miran’s swift entry—confirmed just before the Fed’s September 16-17 rate decision—ramps up the pressure. Remember the summer dust-up? Congress roasted Powell over a lavish $2.5 billion HQ facelift, showing why Trump wants allies who’ll focus on slashing rates to fuel the economy, not fund marble halls.
With tariffs boosting growth without the doom-and-gloom predictions, Miran’s arrival feels like a win for Trump’s America First playbook.
Rate Cut Drama: Trump’s Push vs. Fed Foot-Dragging
The Fed’s tepid 25-basis-point trim last week—bringing the key rate to 4-4.25%—left Miran fuming, and for good reason. It’s a half-measure that keeps mortgages and credit cards punishing families, even as labor data screams for bolder action. Trump’s team sees this as the old guard clinging to power, resisting cuts that could supercharge hiring and keep unemployment from spiking.
Enter St. Louis Fed President Alberto Musalem, whose Monday Brookings remarks doubled down on the caution:
“I supported the 25-basis-point reduction in the FOMC’s policy rate last week as a precautionary move intended to support the labor market at full employment and against further weakening… However, I believe there is limited room for easing further without policy becoming overly accommodative, and we should tread cautiously.”
It’s the kind of inflation-obsessed timidity that’s held back recovery, ignoring how Trump’s policies—like targeted tariffs—are taming prices without stifling growth. Miran’s dissent isn’t just noise; it’s a clarion call for a Fed that works for workers, not Wall Street whispers. With Trump stacking the board, expect more fireworks—and hopefully, rates that actually help Main Street thrive.
