Overview

• Stephen Miran appears before the Senate Banking Committee at 10 a.m. EDT for a hearing on his nomination to the Federal Reserve Board.
• In prepared remarks, Miran pledges to preserve the central bank’s independence despite prior writings favoring presidential power to fire governors and his support for sharp rate cuts.
• Republican leaders signal plans to move his confirmation quickly so he can join the Fed’s September 16–17 policy meeting, leveraging their committee control and 53-seat Senate majority.
• Lisa Cook has sued to block her removal after Trump accused her of mortgage fraud; she remains a governor as a judge seeks additional filings and weighs next steps.
• Analysts warn that curbing the Fed’s autonomy could bring faster near‑term cuts but lift inflation expectations and long‑term yields, though market reaction has been muted so far.