The U.S. Senate Committee on Banking, Housing and Urban Affairs published remarks by Ranking Member Elizabeth Warren ahead of an executive session vote on President Trump’s nomination of Dr. Stephen Miran to be a Member of the Board of Governors of the Federal Reserve System, arguing the nomination would undermine Federal Reserve independence and urging senators to vote against confirmation. Warren said Miran’s responses to her Questions for the Record failed to demonstrate independence from the President, citing his refusal to state that Donald Trump lost the 2020 election, his decision not to resign his current White House role, and his plan to take a “leave of absence” while not disclosing communications with the President or the White House. She argued the arrangement creates a loyalty test because Miran’s votes could affect his ability to return to his White House job, and noted Miran indicated he could remain in the Board seat after his term expires in January next year; she also warned that perceived political control of the Fed would damage its credibility and could contribute to higher prices and weaker labour market outcomes.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2025-09-10
U.S. Senate Committee on Banking, Housing and Urban Affairs releases Warren remarks opposing Stephen Miran’s nomination to the Federal Reserve Board
The U.S. Senate Committee on Banking, Housing and Urban Affairs released remarks by Ranking Member Elizabeth Warren opposing Dr. Stephen Miran's nomination to the Federal Reserve Board, citing concerns over his independence from President Trump. Warren highlighted Miran's refusal to acknowledge the 2020 election results, his ongoing White House role, and potential conflicts of interest affecting Federal Reserve credibility and economic outcomes.