The Republican-controlled Senate approved Stephen Miran's nomination to the Fed Board.
Only two weeks elapsed since the Senate received Mr. Miran's nomination from the White House.
Miran, who is chairman of Trump’s Council of Economic Advisers, will not resign that position.
Having an executive-branch official on the board does not instill confidence
when there are ongoing questions regarding the independence of the Federal Reserve.
“'It was a very bad signal not to resign the position in the administration,' said Eric Rosengren,
who served as president of the Boston Fed from 2007 until 2021.
'It’s very puzzling unless you wanted to show in a defiant way
that you didn’t care about being perceived as independent.'”"Miran has previously been sharply critical of Fed officials who move into executive-branch jobs and vice versa.
In a social-media post two years ago, he said it was impossible to think someone 'can go
from highly political operative to politically neutral just because he or she gets a promotion.
That’s just not how human beings work.'"https://www.msn.com/en-us/money/markets/senate-votes-to-confirm-trump-pick-stephen-miran-to-fed-board/ar-AA1MCclU
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