Summary
Stephen Miran, nominated by President Trump to join the Federal Reserve, stated he will not resign from his current White House job if confirmed. During his confirmation hearing, Miran emphasized his commitment to acting independently and not being influenced by the president. Democrats voiced concerns about his potential political bias, but Republicans largely supported his nomination.
Key Facts
- Stephen Miran is President Trump's nominee for a Federal Reserve vacancy.
- Miran currently works at the White House as part of the Council of Economic Advisers.
- He plans to take a leave of absence from the White House if confirmed to the Fed role.
- Democrats are worried about Miran's independence and potential political influence by Trump.
- Miran insists he values the Federal Reserve's independence and has not promised policy changes to the White House.
- His nomination is likely to move forward in the Senate, where Republicans have a majority.
- Senator Elizabeth Warren criticized the potential impact on the Fed's independence.
- Miran stated he would resign from his White House job if offered a long-term position at the Fed.
