Senate Republicans are poised to confirm President Donald Trump's nominee for the Federal Reserve Board of Governors, Stephen Miran, by Monday. This strategic move is timed just before a key Federal Reserve meeting on interest rates, highlighting the urgency of his appointment.

The Senate Banking Committee moved forward with Miran's nomination this past Wednesday, voting strictly along party lines. This development has set a brisk pace for the Senate, aiming to seat Miran in time for a crucial two-day Fed meeting starting Tuesday morning. Although Miran's vote is not expected to be the deciding factor, his presence is deemed crucial by the administration for the discussions likely to influence future economic policy.

Fed Chair Jerome Powell has indicated a potential rate cut at the upcoming meeting, sparking debates on the extent of such adjustments. Miran's confirmation could play a critical role in shaping these decisions.

To achieve a Monday confirmation, the Senate plans to introduce Miran's nomination on the floor this Thursday. This scheduling would allow for an initial vote by Monday evening, followed by a possible confirmation vote merely two hours later. Senate leaders express confidence in securing enough votes for Miran's confirmation, noting that even with the loss of three GOP senators, Vice President JD Vance could step in to break a tie.

Adding to the Senate's busy agenda, it is concurrently handling unexpected debates over the Jeffrey Epstein files and a GOP-led initiative to amend rules concerning nominations.

Senator Thom Tillis (R-N.C.), a member of the Banking Committee, has publicly supported Miran for the temporary post, which was vacated by Adriana Kugler last month following her resignation. Tillis's backing significantly bolsters Miran's chances for confirmation.

As the Senate navigates these complex legislative waters, the confirmation of Stephen Miran remains a key priority, underscoring the intricate balance of political strategy and economic policymaking at play.

*Jasper Goodman contributed to this report.*