Federal Reserve chairman Jerome Powell reveals or the interest rates will be lowered.
Governor of the Federal Reserve Stephen Miran said on Monday that he will be “as independent as I can” while he serves at the central bank of the nation, even if he takes leave through his role within the Trump government.
During a discussion in the New York economic club, Miran emphasized that his policy decisions would be based on economic data and the double mandate of the Federal Reserve – the responsibility to promote both maximum employment and stable prices – instead of being influenced by political pressure, even if that pressure would be directly from the president, Donald Trump.
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Stephen Miran, governor of the Federal Reserve, will speak on Monday 22 September 2025 during a lunch in New York in New York. (Michael Nagle/Bloomberg/Getty Images/Getty images)
When asked how he would respond if Trump would call him personally and ordered him to take certain actions in the Federal Reserve, Miran said that he would “respectfully” listen and “consider his argument about financial policy, but in the end he would make his own decision.
However, Miran said that Trump “never asked me to set the policy in a specific way.”
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A pedestrian passes the Federal Reserve building of Marriner S. Eccles in Washington, DC, on Saturday 3 June 2023. (Nathan Howard / Bloomberg / Getty images)
Trump tapped Miran, who leads the White House Council of Economic Advisers on August 7 to fill the seat that was abandoned by the Federal Reserve Governor Adriana Kugler, who resigned in August. He will finish the rest of Kugler’s term, which ends on January 31, 2026.
Miran, a veteran of both Trump administrations, said he will take leave in the White House in the Federal Reserve.
The Senate confirmed Miran on 15 September a day for the crucial rate meeting of the Federal Reserve.
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White House Council of Economic Advisers Chairman Stephen Miran walks to the west wing of the White House after traveling television interviews at the North Lawn on 12 August 2025 in Washington, DC (Andrew Harnik / Getty Images / Getty images)
The two -day Federal Open Market Committee (FOMC) meeting determines the interest rates that wrinkle through the economy, so that some Americans pay on mortgages, car loans and credit cards.
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During last week’s FOMC meeting, Miran was the only dissident in the 11-1 decision to lower the interest rates with a quarter-time rate.
Trump has been taking the Federal Reserve chairman for months Jerome Powell To reduce the rates to stimulate the economic growth of the nation.
