In New Responses to Warren, Fed Governor Nominee Stephen Miran Shows He Will Serve Donald Trump

In New Responses to Warren, Fed Governor Nominee Stephen Miran Shows He Will Serve Donald Trump

Miran refuses to resign as President's top economic advisor if confirmed; Refuses to commit to resign after this term is over in January 2026; Refuses to commit to disclosing conversations with Donald Trump while holding jobs both at the Fed and in the White House

Read Miran's responses here

Washington, D.C. - Today, U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, released President Trump's Federal Reserve Board nominee Stephen Miran's responses to the Questions for the Record she submitted following his hearing on Thursday, September 4. Tomorrow, the Committee will meet in executive session to vote on his nomination. According to his responses to Senator Warren, Dr. Miran would not commit to resign from his current White House job even if confirmed - and could simultaneously serve at the Federal Reserve indefinitely, until a successor has been nominated and confirmed.

Installing Dr. Miran on the Fed Board is part of Donald Trump's campaign to take over the Federal Reserve - one he launched months ago to distract from his failure to lower costs "on day one." A Fed that serves the political whims of the President instead of making independent decisions based on what is good for our economy will hurt American families and our economy. Dr. Miran's responses are especially troubling as they follow a hearing in which he refused to admit Donald Trump lost the 2020 presidential election and revealed that he planned to remain a White House employee and chief economist to the President while simultaneously serving on the Federal Reserve Board.

Dr. Miran's responses included the following troubling admissions:

1. Miran refused to commit to resigning from his role as the President's chief economic advisor. (pg 1)
2. Miran refused to commit to resign from his role as the President's chief economic advisor or from the Federal Reserve even after the expiration of his term in January 2026 - raising concerns that he could serve indefinitely, not just for four months, as both the President's chief economic advisors and as a governor on the Federal Reserve. (pg 1)
3. Miran refused to commit to disclosing his conversations with President Trump while on the Fed Board. Given that he would be both the President's chief economic advisor and a Fed Board Governor, Miran must commit to disclosing his communications with the President and other White House officials to reasonably claim he will not be taking orders from Donald Trump. (pg 2)
4. Miran refused to acknowledge that the President lacks authority to fire Federal Reserve Governors at will, a foundational protection of the Federal Reserve's independence. (pg 20)
5. Once again, Miran refused to admit that Donald Trump lost the 2020 election. (pg 1)

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