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Stephen Miran and Lisa Cook will both cast votes at the central bank's meeting on Wednesday, where policymakers are expected to lower interest rates.
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The lawsuit, filed by the president in federal court in Florida, claims The Times defamed him and sought to undermine his campaign in the 2024 election.
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Senate Republicans confirmed President Trump's nomination of Stephen Miran, a top White House economic adviser, as a governor for the Federal Reserve on Monday.
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Cook is expected to participate in a key Federal Reserve meeting Tuesday on setting interest rates after a ruling late Monday by an appeals court.
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