Trump Fed nominee Miran promises independence while keeping White House role

Stephen Miran, Trump's nominee for the Federal Reserve Board of Governors, testified before the Senate Banking Committee that he would exercise independent judgment if confirmed, while refusing to resign his current position as a White House economic advisor. Miran argued the two roles were not incompatible, but Fed independence advocates noted that a governor who simultaneously served a president could not credibly resist presidential pressure on interest rate decisions. The Senate Banking Committee held the nomination pending additional review.