Trump Fed Nominee Miran Plans Unpaid Leave From White House If Confirmed

President Trump's nominee for the Federal Reserve Board of Governors, Stephen Miran, testified before the Senate Banking Committee that he would take an unpaid leave of absence from his current role as chair of the White House Council of Economic Advisers if confirmed, but would not resign outright given the temporary nature of the nomination. Miran emphasized his commitment to the Fed's independence, asserting he would make decisions based on his own analysis rather than political pressure, despite maintaining ties to the White House. Miran's plan to hold dual roles drew criticism from Senate Democrats, including Senator Jack Reed, who questioned the feasibility of true independence given his ongoing relationship with the administration. Miran stated he would resign from his White House position if nominated for a full 16-year Fed term. The confirmation process is urgent as Miran's participation is sought for the upcoming Fed rate policy meeting. Republican Senator Bernie Moreno expressed hope for a stronger, more independent Federal Reserve under appointees like Miran.