Stephen Miran, President Donald Trump’s nominee to temporarily serve on the Federal Reserve Board of Governors, committed to preserving the central bank’s independence in testy exchanges with senators.
Trump announced his nomination of Miran, current head of the White House’s Council of Economic Advisers, early in August to temporarily fill the seat vacated by Adriana Kugler.
Appearing before the Senate Committee on Banking, Housing, and Urban Affairs for his confirmation hearing, Miran discussed the necessity for monetary policy independence as lawmakers centered their questions on the Fed’s autonomy.
“In my view, the most important job of the central bank is to prevent depressions and hyperinflations,” he said in his opening remarks on Sept. 4. “Independence of monetary policy is a critical element for its success….
Trump Fed Pick Stephen Miran Commits to Central Bank Independence
