President Trump’s nominee to the Federal Reserve Board of Governors stated on Thursday that he does not intend to resign from his role as chair of the White House Council of Economic Advisers. Instead, Stephen Miran plans to take a leave of absence without pay while serving at the Fed. His appointment has drawn sharp criticism from Democratic senators, who argue that it could compromise the central bank’s independence. Massachusetts Senator Elizabeth Warren voiced concerns at the start of Miran’s confirmation hearing.\n\nSenator Elizabeth Warren said: \”The illegal removal of a sitting Federal Reserve governor is a critical step in Trump’s plan to dismantle the Fed’s independence and turn it into his personal tool. He wants to install loyalists so the Federal Reserve uses its power to serve the president’s interests, but such an institution cannot be trusted to control inflation effectively.\”\n\nNo Republicans on the Senate Banking, Housing, and Urban Affairs Committee appeared to oppose Miran’s nomination, suggesting his confirmation is likely.\n— news from Democracy Now!\n\n— News Original —\nEl candidato de Trump para la Reserva Federal de EE.UU. planea mantener su puesto como asesor económico de la Casa Blanca\nThe person designated by President Trump to join the Board of Governors of the Federal Reserve said Thursday that he does not plan to resign from his position as chair of the White House Council of Economic Advisers and instead will take a leave of absence without pay while serving at the Fed. Stephen Miran’s proposal drew strong criticism from Democratic senators, who said his confirmation would threaten the independence of the U.S. central bank. Senator Elizabeth Warren of Massachusetts spoke at the beginning of Miran’s confirmation hearing.\n\nSenator Elizabeth Warren: \”The illegal removal of a Federal Reserve governor is a key step in Trump’s plan to destroy the independence of the Federal Reserve and turn it into his personal toy. Trump wants to install his cronies so we have a Federal Reserve that uses its power to please the president, but it cannot be trusted to keep inflation under control.\”\n\nNone of the Republicans on the Senate Banking, Housing, and Urban Affairs Committee appeared to oppose Miran’s nomination, indicating he is likely to be confirmed.\n\nTopics:\n\nDonald Trump