## Miran’s Balancing Act: White House Advisor to Fed Governor?
Here’s a breakdown of the recent developments surrounding Stephen Miran’s potential dual role:
- **Unpaid Leave:** Stephen Miran, nominated by President Trump for a vacant seat on the Federal Reserve’s Board, plans to take an unpaid leave of absence from his current role as chair of the Council of Economic Advisors at the White House.
- **Dual Role Concerns:** This arrangement has raised eyebrows, as it could potentially blur the lines between the White House and the independent Federal Reserve, especially given concerns about Trump’s influence on the central bank.
- **Limited Term:** Miran’s initial term would be relatively short, expiring January 31, 2026. He stated that if confirmed for a longer term, he would resign from his White House position.
- **Legal Advice:** Miran stated he has been advised by counsel on the legal approach to the situation.
- **Independence Pledge:** During his confirmation hearing, Miran emphasized his commitment to the Fed’s independence and stated that he had not been pressured by the administration to ease monetary policy.
- **Context:** The appointment comes amid Trump’s calls for lower interest rates and criticism of current Fed Chair Jerome Powell. The Fed’s next policy meeting is scheduled for September 16-17.
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