The Senate has approved one of President Donald Trump’s top economic advisers for a seat on the Federal Reserve’s governing board, giving the White House greater influence over the central bank just two days before it is expected to vote in favor of reducing its key interest rate.

It’s the latest legal test of Trump’s power in his second term. The Roberts Court has previously signaled its willingness to protect Fed independence.

"The labor market is really cooling off," said Fed Chair Jerome Powell, who's been under unprecedented pressure to slash rates.

Democrats are introducing a bill in the Senate that would bar central bank officials from simultaneously holding a separate presidentially appointed office.

Miran's fast-tracked confirmation comes as Trump has also moved to fire Fed Governor Lisa Cook from the board of the central bank.

Stephen Miran, who chairs Trump's Council of Economic Advisers, said he would take unpaid leave from the role while serving on the Federal Reserve board.

The Trump administration will appeal the court decision blocking President Donald Trump's bid to fire Federal Reserve Governor Lisa Cook, the White House said on Tuesday.

Stephen Miran doesn’t intend to resign from his White House role while serving at the Fed. Senate Republicans confirmed him anyway.

Director of the National Economic Council Kevin Hassett said the Federal Reserve's monetary policy "needs to be fully independent of political influence — including from President Trump."

The Senate voted Monday to confirm President Trump’s top White House economist to the Federal Reserve board of governors. Senators voted along party lines, 48-47, to approve the nomination

Stephen Miran doesn’t intend to resign from his White House role while serving at the Fed. GOP senators confirmed him anyway.