Summary
The Senate is preparing to vote on Stephen Miran's nomination to the Federal Reserve Board. Miran, a current White House adviser, has been nominated amid controversy over his ties to President Trump and his views on the Fed's independence. If confirmed, Miran plans to take an unpaid leave from his current role but will not resign entirely.
Key Facts
- Stephen Miran is nominated by President Trump to join the Federal Reserve Board.
- The Federal Reserve Board is a key body responsible for setting monetary policy in the U.S.
- Trump has been critical of the Federal Reserve, especially its chairman, Jerome Powell.
- Miran currently serves as the chair of the White House Council of Economic Advisers.
- If confirmed, Miran intends to take unpaid leave from his White House role rather than resign.
- Democrats are concerned about Miran's ties to the White House and potential influence on Fed independence.
- The Senate Banking Committee voted narrowly along party lines to advance Miran's nomination.
- Miran holds a Ph.D. in economics from Harvard University and has a background in financial markets.
