President Donald Trump‘s Federal Reserve nominee Stephen Miran defended his independence during a contentious Senate Banking Committee hearing on Thursday, as Democrats warned his appointment could undermine the central bank’s autonomy over monetary policy decisions.
Miran Promises Fed Independence Despite Trump Pressure
Miran, currently chair of Trump’s Council of Economic Advisors, faced two hours and 20 minutes of questioning about whether he would make interest-rate decisions free from presidential influence. The hearing comes as the Fed prepares for its September 16-17 meeting.
“I’m always happy to hear views from every source possible…to challenge my own views and interrogate them,” Miran told senators. When asked directly if he …