Senate Panel Prepares to Hold Hearing on Trump's Fed Pick
Last edited Wed Aug 27, 2025, 07:58 AM - Edit history (1)
Source: msn/Bloomberg
11h
(Bloomberg) -- The Senate Banking Committee is preparing to hold a hearing next week on the nomination of White House economic adviser Stephen Miran to serve as a Federal Reserve governor, as President Donald Trump accelerates his push to reshape the central bank. The preparations were described by a person familiar with the matter who requested anonymity because the hearing had not yet been officially announced.
The Miran hearing is expected to be a broad referendum on Trump’s efforts to influence the Federal Reserve into lowering interest rates, and his move earlier this week to remove Federal Reserve Governor Lisa Cook amid questions about answers she provided on mortgage applications.
That represented the first time a president has ever sought to remove a Fed governor for cause, and resulted in Democrats accusing the president of breaching the central bank’s independence and a vow by Cook to challenge her firing in federal court.
Miran has been nominated to only serve the expiring term of Fed Governor Adriana Kugler, which ends in January. But earlier Tuesday, Trump said he was considering shifting Miran’s nomination to fill the potential vacancy created by Cook, whose term expires in 2038.
Read more: https://www.msn.com/en-us/money/markets/senate-panel-prepares-to-hold-hearing-on-trump-s-fed-pick/ar-AA1LhCAs
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