You're a member of the council of economic advisory. If you're confirmed, will you resign from the council. >> Thank you, senator.Um I have received advice from council that uh what is required is an unpaid leave of absence from the council of economic adviserss. And so considering the term for which I'm being nominated is a little bit uh more than four months, that is what I will be taking. Uh if I as as long as that is the advice of council, I will follow the law.>> Well uh your independence has already b ...

Monetary Policy & Leadership - Stephen Miran, President Trump's nominee for the Federal Reserve Board of Governors, addressed concerns about his independence [1] Political Context - The report highlights potential political influence on the Federal Reserve [1]

The Senate Banking Committee grilled Donald Trump's pick for the Federal Reserve on Thursday. Dr. Stephen Miran fielded questions about an independent Fed and his proposed changes for the Fed https://t.co/J4nU3F8PkB https://t.co/YUGWFtGLer ...

Bitcoin Adoption & Corporate Strategy - Corporations are increasingly driving Bitcoin adoption, catching up to initial adoption by individuals [4] - Businesses have emerged as the primary force behind Bitcoin's ongoing bull market [4] - Bitcoin inflows onto business balance sheets in the first eight months of 2025 have exceeded the total for all of 2024 by $125 billion [5] - Treasury companies account for 76% of all Bitcoin purchases since January 2024 and 60% of publicly reported business holdings [6] - A 1% allocation to Bitcoin in 2020 could have resulted in a $14 billion to $29 billion treasury gain for companies like Microsoft, Google, and Apple [12] - Businesses using River allocate an average of 22% of their net income to Bitcoin, with a median allocation of 10% [13] Inflation & Investment - Inflation has eroded the purchasing power of corporate balance sheets by $14 billion to $21 billion since 2020 [11] - Holding cash leads to losses due to the debasement of the dollar, while holding assets like stocks, gold, Bitcoin, and real estate leads to gains [16] - The dollar has lost 30% of its purchasing power since 2020 [17] Monetary Policy & Inflation Target - The Federal Reserve's inflation target of 2% may be too low, and a 3% target might be more appropriate given current economic conditions [20][21][23] - Consumer finances data suggests that 3% is the new 2% [27][28][29]

Monetary Policy - The Federal Reserve nominee assures Democratic critics of commitment to an independent central bank [1]

You're member of the council of economic advisory. If you're confirmed, will you resign from the council. Thank you, senator.Um I have received advice from council that uh what is required is an unpaid leave of absence from the council of economic adviserss. And so considering the term for which I'm being nominated is a little bit uh more than four months, that is what I will be taking. Uh if I as as long as that is the advice of council, I will follow the law.Well, uh, your independence has already been se ...

Federal Reserve Independence - The report highlights concerns about President Trump's assault on the independence of the Federal Reserve [1][2] - The report questions the nominee's ability to transition from a highly political role to a non-political role without political biases influencing policy [2] - The report suggests the nominee may not be independent enough to contradict President Trump [3][4][5][6][7][8][9][10] Economic Data and Inflation - The report raises concerns about the accuracy and unbiased nature of data from the Bureau of Labor Statistics (BLS), particularly regarding jobs numbers [5][6][7][8][9] - The report questions the nominee's claim that consumers have not seen a material macroeconomic increase from tariffs [10] - The report indicates that costs for basic necessities like groceries, utilities, housing, and school supplies are increasing [11] - The report suggests the nominee is conflating relative price increases with overall inflation [12][13]

Fed Independence Concerns - The Senate is concerned about compromising the Fed's independence, potentially hindering confirmation hearings [1] - President Trump's efforts to influence monetary policy are unprecedented and should be taken seriously, though markets appear comfortable [2][3][4] - Actions that are unprecedented are already being observed, potentially undercutting the Fed's independence [6] Potential Challenges to Fed Governors - Questions arise regarding the grounds for dismissing a Fed governor, particularly concerning actions unrelated to job performance [7][8] - If Governor Lisa Cook were found guilty of mortgage fraud, her position on the Fed would be untenable, regardless of the president's authority to remove her [7][8][9] Interpretation of Fed Independence - Fed independence does not mean the Fed can act without constraints; it must follow Congress's objectives of maximum sustainable employment and price stability [10][11] - Fed independence allows the central bank to conduct monetary policy free from political pressure to achieve its objectives, leading to better economic outcomes [12][13] - Compromising central bank independence can erode credibility, raising concerns about whether rate cuts are politically motivated [12] FOMC Composition - The reappointment of regional presidents could be influenced, requiring Governors Waller and Bowman to agree [4] - Even with four Trump appointees on the board, they might not all agree to alter the Federal Open Market Committee (FOMC) composition by not reappointing presidents [5]

LIVE: Trump's Fed governor pick Stephen Miran testifies before the Senate Banking Committee About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http: ...

President Trump’s campaign to bring the Federal Reserve under White House control faces a major test Thursday when the Senate weighs confirming Stephen Miran to the central bank’s board of governors https://t.co/MZn91VgNkz ...