U.S. Senate Committee on Banking, Housing and Urban Affairs Ranking Member Elizabeth Warren sent a letter to Federal Reserve Board of Governors nominee Stephen Miran seeking clarification on discrepancies in his financial disclosures and his family’s relationship with ECPI, a for-profit university, after she said his responses to her Questions for the Record did not address key issues. The letter frames the disclosure questions as relevant to the Federal Reserve’s independence and public confidence in the impartiality of its decision-making. Warren highlighted that Miran’s 26 February 2025 disclosure reported his spouse received USD 1.4 million in income from ECPI, while a 3 September 2025 disclosure listed USD 457,954 from the same source, and asked him to explain the change and the accuracy of the disclosures in his Office of Government Ethics forms. The letter also notes that Board members are subject to executive branch ethics rules and Federal Reserve-specific rules intended to preserve public confidence. The letter was sent ahead of the committee’s 10 September 2025 markup of Miran’s nomination.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2025-09-09
U.S. Senate Committee on Banking, Housing and Urban Affairs Ranking Member Warren questions Fed nominee Miran over ECPI ties and spouse income disclosure shift from USD 1.4 million to USD 457,954
U.S. Senate Committee on Banking, Housing and Urban Affairs Ranking Member Elizabeth Warren sent a letter to Federal Reserve Board nominee Stephen Miran, questioning discrepancies in his financial disclosures and his family's ties to ECPI, a for-profit university. Warren emphasized the importance of these disclosures for the Federal Reserve's independence and public confidence. The inquiry precedes the committee's 10 September 2025 markup of Miran's nomination.