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Trump’s Fed pick gets blasted for planning to stay at the White House
Stephen Miran, President Trump's nominee for the Federal Reserve, revealed he would remain a White House employee if confirmed. This plan caused alarm regarding the Fed's independence from political influence. Miran stated he would take unpaid leave from his White House Council of Economic Advisers role. However, he indicated he would only resign from the administration if nominated for a longer Fed term. Democrats criticized his intention to retain his White House position, citing compromised independence. This situation reflects broader concerns about Trump's attempts to control the Fed. Trump has publicly pressured Fed Chair Jerome Powell regarding interest rates and other policy decisions. Miran downplayed these concerns, asserting he would make decisions based on economic data if confirmed. Even some Republicans expressed worries about the erosion of Fed independence. Miran's past writings suggested a desire for increased presidential control over Fed board members. His current plan appears to contradict his own previous recommendations for insulating Fed members from politics.
https://www.fastcompany.com/91398518/trump-federal-reserve-stephen-miran-white-house fastcompany.com