Trump's Fed governor nominee pledges to uphold central bank independence

Donald Trump's nominee to join the Federal Reserve's board of governors pledged to uphold US central bank independence if confirmed, amid mounting concern about the White House intervention in fiscal policy.
 

During his confirmation hearing before the Senate Banking Committee, Miran said he would perform his role in accordance with the mandate assigned to him by the Congress if his appointment is endorsed.
 

He also said that the FOMC "is an independent group with a monumental task, and I intend to preserve that independence."
 

He added that the most important job of the central bank is to prevent depressions and hyperinflation.
 

Miran also reiterated that the Fed independence is key to the economy and capital markets in the long run.
 

However, these pledges did not convince some Democrats, as Senator Elizabeth Warren criticized Miran and said that his only achievement is to justify Trump’s policies.