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21h ago

WSJ Editorial Rebukes GOP Push to Seat White House Aide on Fed Board

The conservative paper warns Republicans are creating a precedent future presidents could exploit to pressure the central bank.

White House Council of Economic Advisers Chairman Stephen Miran sits during his confirmation hearing before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill in Washington, D.C., U.S., February 27, 2025. REUTERS/Annabelle Gordon/File Photo
Stephen Miran, President Donald Trump's nominee to the Federal Reserve Board, attends a Senate nomination hearing in Washington, DC, on September 4, 2025.
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Overview

  • The Wall Street Journal's editorial board cautioned that Republicans will regret failing to resist President Trump's executive-power moves.
  • The board singled out the effort to confirm White House aide Stephen Miran to the Federal Reserve Board as a test of central bank independence.
  • Editors wrote that Miran would not be seen as independent and suggested he would be "speaking for, and answering to, the President."
  • Coverage describes Senate Republicans pushing to confirm Miran, with reports saying the chamber appeared poised to approve him.
  • Accounts differ on Miran's White House role, with one report saying he would keep the job during his Fed service and another saying he would take an unpaid leave and return afterward.