Overview

• Stephen Miran, the White House CEA chair and Fed board nominee, submitted opening remarks pledging to uphold central bank independence and the dual mandate ahead of Thursday’s Senate Banking hearing.
• Senate Republicans are exploring an accelerated schedule with potential rule changes to confirm him in less than 10 legislative days, though leaders acknowledge the timeline is ambitious.
• Treasury Secretary Scott Bessent publicly urged a quick vote and said there is a very good chance Miran could be seated before the September policy meeting, reflecting the administration’s urgency.
• Democrats and several Republicans plan to press Miran on central bank independence, with Sens. Mike Rounds, John Kennedy and Katie Britt signaling pointed questions at the hearing.
• Cook’s lawsuit challenging her removal keeps the vacancy in dispute, and while Miran would serve out Adriana Kugler’s term through Jan. 31, 2026, his past proposals to overhaul Fed governance would require congressional action.