Stephen Miran, chair of the White House Council of Economic Advisers (CEA), will appear before the Banking panel this week as the Senate mulls his nomination to the Fed board.
Trump has unleashed an unprecedented pressure campaign on the Fed to gain control of the traditionally independent monetary authority, berating Fed Chair Jerome Powell online and in person, and ordering the removal of Fed board member Lisa Cook, who is suing Trump to block the order.
Amid the campaign, Fed board member Adriana Kugler resigned unexpectedly last month.
If confirmed by the Senate as expected, Miran would take her position, becoming the first Fed board member — possibly of several — to be appointed by Trump in his second term.
Miran has already been confirmed by the Senate to lead Trump’s CEA and should face little trouble being approved for his new position by the GOP-controlled upper chamber.
But as one of the chief designers of Trump’s unorthodox economic policies, which have rattled investors and bucked conventional thinking, Miran and his wide-ranging proposals for Fed reform and the role of the U.S. economy on the world stage are set to get intense scrutiny from lawmakers.
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