## Miran Vows to Uphold Fed Independence and Mandate
Stephen Miran, President Trump’s nominee for a Federal Reserve Governor position, has pledged to maintain the central bank’s independence and its dual mandate of price stability and maximum employment. His confirmation hearing before the Senate Banking Committee is scheduled for Thursday. Here’s a quick rundown of the key points:
- **Independence is Key:** Miran emphasized the importance of the Fed’s independence in preventing economic crises like depressions and hyperinflations.
- **Dual Mandate Commitment:** He stated his commitment to fulfilling the Fed’s dual mandate of price stability and maximum employment, as assigned by Congress.
- **Temporary Role:** Miran will serve out the remainder of Adriana Kugler’s term, which ends January 31, 2026.
- **Context of Appointment:** The appointment comes amid speculation about Trump’s interest in influencing the Fed’s monetary policy, particularly regarding lower borrowing costs.
- **Past Criticisms:** Miran has previously criticized the Fed’s aggressive stimulus during the COVID-19 crisis.
- **Oversight Concerns:** Miran raised questions about the oversight of the Fed’s activities beyond its dual mandate, including its balance sheet.
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