September 4, 2025
Trump Fed nominee Stephen Miran promises independence while keeping White House advisor job
Fed nominee maintains White House loyalty while promising independence
📜Constitutional Law🏛️Government💰Economy
Stephen Miran testified September 4, 2025 before Senate Banking Committee for Federal Reserve governor nomination while serving as Chair of White House Council of Economic Advisers
Miran stated he would take unpaid leave from White House position if confirmed, rather than resign entirely from Council of Economic Advisers
Senate confirmed Miran on September 15, 2025 by 48-47 vote along party lines, with only Republican 
Lisa Murkowski voting against
Miran fills 
Adriana Kugler's unexpired term ending January 31, 2026 after she resigned August 8, 2025
Democratic senators including Jack Reed and 
Elizabeth Warren questioned whether unpaid leave adequately addresses conflicts with Fed independence
Federal Reserve governors serve 14-year staggered terms designed to insulate monetary policy from short-term political pressures
Miran is first Fed governor to hold White House position since 1936, when Banking Act of 1935 ended practice of Treasury officials serving on Fed Board
Historical Fed independence since 1936 protects economic stability by preventing presidential manipulation of interest rates for political gain
📜Constitutional Law🏛️Government💰Economy
Test Your Knowledge
10
Q1
According to Washington Post reporting on September 4, 2025, Sen. Andy Kim (D-N.J.) warned that Miran’s plan risked him acting in whose political interests?
Q2
What is the expiration date of the unexpired Federal Reserve Board term that Stephen Miran was nominated to fill?
Q3
Trump nominated Miran to fill which Fed governor's remaining term?
Q4
Stephen Miran keeps his White House advisor job while serving on the Federal Reserve Board, creating an unprecedented conflict. How does this dual role let Trump control monetary policy?
Q5
Which government role did Stephen Miran hold at the U.S. Department of the Treasury during President Donald Trump’s first term (2017–2021)?
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Stephen Miran
Fed Governor confirmed September 15, 2025; Chair of White House Council of Economic Advisers on unpaid leave
Donald Trump
President who nominated Miran
Jack Reed
Democratic Senator from Rhode Island
Elizabeth Warren
Ranking Democrat on Senate Banking Committee
Lisa Murkowski
Republican Senator from Alaska
Adriana Kugler
Former Fed Governor (resigned August 8, 2025)