Fed Nominee Stephen Miran Grilled on Independence and Trump's Claims

Senate Banking Committee Hearing

• 📌 Fed Governor nominee Stephen Miran testified before the Senate Banking Committee, with CNBC's Steve Liesman monitoring the proceedings.
• 🎯 Ranking member Elizabeth Warren focused on questioning Miran's independence from President Trump.

Key Questions and Responses

• 💬 Warren pressed Miran to disavow Trump's claims about the 2020 election and alleged BLS data manipulation for political reasons.
• ⚠️ Miran affirmed his belief in Fed independence but stated it's appropriate for the president to express views on monetary policy.
• 💡 He expressed concerns about the Fed's mission creep, particularly regarding climate change, and pledged not to engage in it.
• 👔 Under questioning, Miran stated he would take an unpaid leave of absence from his CEA chair position, a move described as 'ridiculous' by Senator Reid.
• 🧠 Responding to a question about being Donald Trump's puppet, Miran asserted, "I'm an independently minded thinker."