#Republicans Advance #Trump #Fed Pick Despite Ties to #WhiteHouse
#StephenMiran, a top economic adviser to #Trump, cleared a key #Senate hurdle on Wednesday, putting him one step closer to a seat on the #FederalReserve.
#law #economy #independence
https://www.nytimes.com/2025/09/10/business/trump-fed-stephen-miran.html?smid=nytcore-ios-share&referringSource=articleShare
The 13-11 vote could allow #StephenMiran to be in place for the #FederalReserve’s next 2-day meeting Sept. 16-17.
He was tapped to fill Adriana Kugler’s seat on the #BOG after she abruptly stepped down last month. He has moved through the confirmation process at warp speed by #Republican lawmakers ahead of the #Fed’s vote on #InterestRates next week. And he has been nominated as #Trump tries to remake the #CentralBank’s top ranks after months of withering attacks.
Perhaps the biggest break with tradition involves Miran’s stated plans to remain tied to the #WhiteHouse while he serves at the #FederalReserve. Rather than resign his post advising #Trump on economic policy as chair of the Council of Economic Advisers, Miran said, he would instead take an unpaid leave of absence. That would enable him to return to the admin once his term at the #CentralBank was complete.
The arrangement has raised the specter that Miran may feel beholden to #Trump and unwilling to support #policy actions that, while good for the #economy, would be politically problematic for the president who employs him.
Miran’s decision has greatly troubled former White House officials, legal experts, economists & Democratic lawmakers, but not #Senate #Republicans….
Shouldn't that be "because of", not "despite"?
Nonilex
Paul Wermer, CC BY-NC-SA 4.0