Stephen Miran, President Donald Trump’s nominee for an open seat on the Federal Reserve Board, said he would take an unpaid leave of absence from his current role at the White House rather than resign.
Miran made the comment during his Senate confirmation hearing Thursday, which was focused on the question of whether he would be sufficiently independent from the president after serving as Trump’s chief economist and close adviser all year. Fed board seats have fixed terms, and the position for which he is nominated expires at the end of January.
“I have received advice from counsel that what is required is an unpaid leave of absence from the Council of Economic Advisers,” he told the Banking Committee. “And so, considering the term for which I’m being nominated is a little bit more than four months, that is what I will be taking.”
He said if he were later confirmed to a longer term, he would resign. Democrats sharply questioned his decision.
