Stephen Miran, nominated by President Trump for a temporary Federal Reserve Board of Governors seat, testified before the Senate Banking Committee. He committed to upholding the central bank's independence during his confirmation hearing. Miran emphasized that monetary policy independence is crucial for preventing depressions and hyperinflations. He assured senators he would act independently and value diverse opinions. However, Democratic senators, like Elizabeth Warren, expressed skepticism, fearing he would act as a proxy for Trump and undermine Fed autonomy. Warren questioned his views on the 2020 election and alleged job number manipulation, which Miran addressed by stating Biden was certified and acknowledging data quality issues. Senator Andy Kim inquired about any pressure to lower interest rates, to which Miran responded negatively. Despite concerns, Miran is likely to be confirmed due to Republican control of the Senate. Republican senators encouraged him to prioritize his judgment over political opinions. His confirmation could precede an anticipated interest rate cut by the Federal Open Market Committee. If confirmed, Miran's term would end January 31, 2026, allowing Trump to renominate him for a full term. Miran plans to take unpaid leave from the White House for this temporary, short-term role.