When Donald Trump nominated Stephen Miran as Fed Governor, you would have thought he set the world on fire.
During that time, Trump has gone to war with the Fed, firing board members and encouraging an investigation into Fed Chair Jerome Powell.
Now Miran is leaving, much to the delight of Dems, but who will Trump replace him with?
Miran is a Trump loyalist, and he terrifies Democrats.
After he was nominated, it was a nearly party-line vote to have him confirmed, 48-47, with one Republican crossing over.
Among his detractors was Sen. Elizabeth Warren (D-MA), who had stated, “Donald Trump is full speed ahead in trying to take over the Fed.”
Sen. Lisa Murkowski (R-AK) crossed the aisle on the vote, stating, “We want it, need it, to be that independent board, and so anything that would compromise even the perception of independence, I was looking at very carefully.”
Trump has been trying to pressure Powell to lower interest rates since he took office, and many believe the recently announced investigation into Powell is just Trump putting the squeeze on the chairman.
Powell likely knows that there is no way he would ever be found guilty, so he has stood firm, which has only aggravated Trump further.
Pirro is now digging into the finances of the Fed remodel, and Trump is encouraging her to go to the wall on this, stating, “It’s either gross incompetence or it’s theft of some kind, kickbacks. I don’t know what it is.”
He then added, “But Jeanine Pirro is incredible, and she’ll figure it out.”
This week, Miran announced that he was leaving the Fed, serving for the last four months as the Federal Reserve Governor. The White House announced, “In accordance with the pledge he made to the Senate during his confirmation to the Federal Reserve’s Board of Governors, Stephen Miran has submitted his resignation from the Council of Advisors.”
The statement continued, “Prior to the start of Stephen’s leave last September, his brilliant insights and powerful advocacy on behalf of the President made him an enormous asset for the White House, and he established himself as a key member of the Trump administration’s economic team.”
Sen. Warren was delighted, stating, “41 days too late. Once a Donald Trump sock puppet, always a Donald Trump sock puppet.”
Who will replace Miran is unknown, but we do know that Trump has already promised to replace Powell with Kevin Warsh when Powell’s term ends. If you thought Democrats were upset over Miran, wait until you see what they do with Warsh.
