U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member Warren urges Senate to reject Stephen Miran for Federal Reserve Board over White House role

In a minority press release, the U.S. Senate Committee on Banking, Housing and Urban Affairs published a Senate floor speech by ranking member Elizabeth Warren urging colleagues to vote against Dr. Stephen Miran’s nomination to the Federal Reserve Board of Governors. Warren argued that Miran’s stated intention to keep his White House chief economic adviser position while serving at the Fed would create an unprecedented conflict of interest and undermine Federal Reserve independence. Warren said the nomination was being accelerated so Miran could be sworn in hours before the Federal Reserve’s next interest rate meeting on 16 September 2025. She cited Miran’s confirmation hearing and related disclosures, including that he would not say Donald Trump lost the 2020 election, refused to resign from his role at the Council of Economic Advisers, and would not disclose communications with the White House while at the Fed; she also said Miran would not rule out remaining on the Board after his term expires in January. The speech warned that perceived political control of the Fed could damage credibility and lead to higher inflation and higher borrowing costs. The release framed the issue as a pending Senate confirmation vote on Miran’s nomination, with Warren urging Senators to vote against confirmation.