From Fox Business: President Donald Trump’s nominee to join the Federal Reserve Board of Governors insisted to lawmakers Thursday he would keep the central bank independent and would take an “unpaid leave of absence” from his current White House position if confirmed to the role.
Stephen Miran, chairman of the White House Council of Economic Advisers, appeared in front of the Senate Banking Committee, where he declared that the “independence of the central bank is of paramount importance for the economy, for financial markets, for the long-run stewardship of the country.”
The Federal Reserve Board of Governors, commonly known as the Fed board, is composed of seven members, or governors, who are nominated by the president and confirmed by the Senate. Trump has said that Miran — if confirmed — will serve in the role until Jan. 31.
When Miran was asked by Sen. Jack Reed, D-R.I., if he would abandon his White House job if confirmed to the Federal Reserve role, Miran said, “I have received advice from counsel that what is required is an unpaid leave of absence from the Council of Economic Advisers.”
“And, so, considering the term for which I’m being nominated is a little bit, more than four months, that is what I will be taking. As long as that is the advice of counsel, I will follow the law,” Miran added.
Reed then blasted Miran for not completely resigning, claiming he would technically be independent.
.@SenJackReed: “Now, you’re a part of the President’s Council of Economic Advisers. If you’re confirmed, will you resign from the council?”@SteveMiran: “What is required is an unpaid leave of absence. As long as that is the advice of the counsel, I will follow the law.” pic.twitter.com/omz7HumRKy
— CSPAN (@cspan) September 4, 2025
Meanwhile, Democrat Sen. Elizabeth Warren claimed Miran isn’t qualified for the job because he refused to say he words “Donald Trump lost the 2020 election.”
“Joe Biden was certified by Congress as president of the United States,” Miran said three times, as Warren repeatedly tried to get him to call Trump a loser.
WATCH BELOW:
President Trump’s new Fed nominee claims he is independent — but REFUSES to admit that Donald Trump lost the 2020 election.
Doesn’t sound like independence to me.
And Americans will pay the price. pic.twitter.com/eY2fV0BVam
— Elizabeth Warren (@SenWarren) September 4, 2025
READ MORE from Fox Business.
Follow us on X (Formerly Twitter.)
The DML News App: www.X.com/DMLNewsApp
