Trump’s Fed pick Stephen Miran hearing to be Sept 4, 10am, US Senate Banking Committee says.
The hurry is to get Miran on the Federal Open Market Committee (FOMC) prior to the meeting on September 16 and 17. Trump is trying to stack the Committee with yes men who will follow his orders. In this case, for a rate cut.
Miran is currently chair of the president’s council of economic advisers. Miran’s views on the Federal Reserve are in alignment with his desire to have Trump choose him:
- called for sharply lower interest rates
- says there is no inflation impact from tariffs
- wants Fed independence dismantled to give Trump far stronger control over Bank, including the right to fire its leadership for any reason
