Stephen Miran, economic advisor of US President Donald Trump and candidate supported by the White House in a position of governor of the Federal Reserve (Fed), committed to the Senate on Thursday to sit independently within the monetary institution. If the senators quickly confirm the appointment of Stephen Look, the latter could sit in the committee fixing the interest rates of the Central Bank of the United States at their next meeting, on September 16 and 17.
Stephen Miran has so far been a jealous defender of the economic agenda of President Trump, which includes a large scale of offensive and permanent pressures of the Fed, convened to reduce guiding fees to promote loans and support activity. He is on his way to take the siege that Adriana Kugler, who had been appointed by former Democratic president Joe Biden, has appointed him on August 1.
“My decisions will be based on my macroeconomy analysis”
Donald Trump’s choice to appoint his advisor has erected the democratic opposition, which fears a diet at the orders, a follower of low rates, even if it implies letting inflation turn. The president of the United States intends to revoke the governor of the Fed Lisa Cook, accused of the presidential camp of having lied to obtain real estate loans at more favorable rates. Lisa Cook, also appointed by Joe Biden, confiscated justice to remain in office. “The independence of the Fed is essential,” said Stephen look during his confirmation hearing before a Senate committee.
“My opinions and decisions will be based on my analysis of the macroeconomy and on what is best in the long term,” he continued, emphasizing “preserving” the independence of the Fed. The Fed Governors Council has seven people: six governors and a president (currently Jerome Powell). They are part of the committee of twelve people voted on monetary policy.
Source: BFM TV
