In a minority press release, the U.S. Senate Committee on Banking, Housing and Urban Affairs published a transcript of Ranking Member Elizabeth Warren’s questioning of Dr. Stephen Miran, nominee to be a Member of the Board of Governors of the Federal Reserve System, focused on whether he would act independently of President Donald Trump. The release highlights Miran’s refusal to answer yes or no when asked whether Trump lost the 2020 presidential election, responding instead that Congress certified Joe Biden as President. It also points to his responses to Warren’s questions about Trump’s allegation that the Bureau of Labor Statistics “faked” jobs numbers ahead of the 2024 election, with Miran discussing deteriorating data quality rather than directly agreeing or disagreeing with the claim. Warren also challenged Miran’s past assertions that consumers have not seen a material macroeconomic increase from tariffs, citing increases in the cost of basic necessities, while Miran argued the questions conflated relative price changes with inflation and said there had been no detectable increase in the price level from tariffs.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2025-09-04
U.S. Senate Committee on Banking, Housing and Urban Affairs minority says Fed Board nominee Stephen Miran failed to show independence from President Trump
The U.S. Senate Committee on Banking, Housing and Urban Affairs released a transcript of Ranking Member Elizabeth Warren's questioning of Dr. Stephen Miran, nominee for the Federal Reserve Board of Governors. The questioning focused on Miran's independence from former President Trump, his views on the 2020 election results, and his stance on tariffs and inflation. Miran avoided direct answers on Trump's election loss and the Bureau of Labor Statistics' data integrity, while defending his views on tariffs and inflation.