President Donald Trump’s nominee for the Federal Reserve Board, Stephen Miran, sparked controversy during his Senate confirmation hearing after revealing he does not intend to fully step away from his White House position if approved for the role.
Miran, who currently serves as chair of the White House Council of Economic Advisers (CEA), was nominated last month to complete the term of former Federal Reserve Governor
Adriana Kugler, who resigned early to return to Georgetown University. The term ends in January.
When asked by lawmakers whether he would resign from his White House post to ensure independence at the Fed, Miran said he had been advised by legal counsel to take an unpaid leave of absence rather than step down entirely. Given the short duration of the appointment — just over four months — he argued this was a practical solution.
However, several senators questioned whether such an arrangement would undermine the independence of the Federal Reserve.
Senator Jack Reed (D-RI) called the plan “ridiculous,” while Senator Andy Kim (D-NJ) expressed concern that Miran could still be influenced by political pressure if he returned to the White House afterward.
Critics noted that Miran had previously written about the importance of shielding the Federal Reserve from politics, saying his current stance contradicts his own arguments.
The controversy comes as Trump continues to clash with the Fed, particularly its chair Jerome Powell, over interest rate policies. Trump has repeatedly criticized Powell for not cutting rates fast enough, at times resorting to personal insults.
Adding to the political tension, the Trump administration recently attempted to remove Federal Reserve Governor Lisa Cook, a Biden appointee, over allegations of misconduct — claims she denies and is now challenging in court.
Despite the sharp questioning, Miran insisted that if confirmed, he would remain committed to ensuring the Fed operates independently. He emphasized that his goal would be to focus on the central bank’s core mission of maintaining economic stability.
