Senators Feud Over Trump Move
The battle over Federal Reserve independence exploded in Washington on Thursday as President Donald Trump’s nominee, Stephen Miran, faced tough questioning during his Senate confirmation hearing. Miran, who currently chairs the White House Council of Economic Advisers, has been tapped by Trump for a seat on the powerful Federal Reserve Board of Governors.
This high-stakes nomination could reshape America’s monetary policy at a critical moment, with inflation concerns, volatile markets, and Trump’s push to strengthen U.S. economic sovereignty dominating the headlines.
Democrats Attack, Calling Miran a “Trump Puppet”
Democrats came out swinging, accusing Miran of being a loyal Trump ally who would turn the Federal Reserve into a political tool.
Sen. Elizabeth Warren (D-Mass.) aggressively pressed Miran on several hot-button issues, including:
- Whether he believes Trump lost the 2020 election,
- Trump’s criticism of “fake” Labor Department jobs reports, and
- Whether tariffs are causing higher prices for American consumers.
Miran carefully avoided political traps, stating only that Congress certified Biden as the 2020 winner while defending tariffs as not a driver of inflation, a stance widely supported by conservative economists who back Trump’s America First trade policies.
Warren wasn’t satisfied.
“Every vote he takes will be tainted with suspicion that he is Donald Trump’s puppet,” Warren claimed.
Republicans Highlight Biden’s Politicized Fed
Republicans countered by pointing to what they see as partisan politicization of the Fed under the Biden administration, citing efforts to inject climate change policies and diversity mandates into the Fed’s operations — priorities they say have nothing to do with sound monetary policy.
Banking Committee Chair Sen. Tim Scott (R-S.C.) asked Miran directly if he would serve independently.
“If I’m confirmed, I will act independently as the Federal Reserve always has,” Miran assured lawmakers.
Controversy Over Miran’s Dual Roles
Miran revealed that legal counsel advised him to take an unpaid leave of absence from his White House role instead of resigning outright. This would allow him to return to the White House after his short Fed term expires.
Democrats immediately seized on this, accusing Miran of breaking his own past recommendations. Last year, Miran authored a paper urging stricter rules to close the revolving door between the executive branch and the Federal Reserve.
Miran pushed back, saying his past recommendations were meant to be part of comprehensive reform rather than applied in isolation.
Sen. Tina Smith (D-Minn.), however, wasn’t convinced, saying,
“I just don’t understand how your nomination doesn’t violate the very rules you once supported.”
Trump’s Bold Vision: Reshaping the Fed
Miran has been a key architect of Trump’s economic strategy, which includes:
- Tough tariffs to protect American industries,
- A weaker U.S. dollar to strengthen exports, and
- Pressuring allies to pay their fair share for defense.
Even more controversial are Miran’s proposals to restructure the Federal Reserve, including:
- Nationalizing the Fed’s 12 regional banks,
- Redrawing district maps, and
- Altering how key monetary decisions are made.
Experts say these reforms could dramatically shift global economic power toward the U.S.
“There’s significant authority to reorganize the Fed without even needing congressional approval,” said Mark Spindel, founder of Potomac River Capital.
Critics, including former Fed economist Claudia Sahm, warn that Miran’s ideas could give the White House too much control over monetary policy, potentially undermining confidence in the U.S. financial system.
Miran Promises Independence
Despite heated accusations, Miran maintained that he would stay focused on the Fed’s core mission:
“The president nominated me because he values my policy expertise,” Miran said. “But as a Fed governor, my decisions will be made independently and guided by sound economics.”
Why This Matters to Everyday Americans
This nomination could determine the future of your retirement savings, mortgage rates, and the overall strength of the U.S. economy.
With inflation still a threat and foreign nations challenging American economic dominance, the Federal Reserve will play a pivotal role in shaping prosperity under Trump’s leadership.
For conservatives, this hearing underscores the importance of having a Fed that works for the American people, not global elites or progressive activists pushing their social agenda.
