Stephen Miran, U.S. President Donald Trump's pick to fill an open seat at the Federal Reserve, on Thursday parried dozens of questions from lawmakers about whether he will make interest-rate decisions independently of presidential pressure, with Republicans seeking to use the exchanges to affirm Miran's promise of political neutrality and Democrats expressing their skepticism.
The Senate Banking Committee hearing on Miran's nomination comes as Trump steps up efforts to exert control over the central bank, including an unprecedented attempt to remove a sitting Fed governor.
The Fed's ability to manage inflation effectively is widely seen as requiring freedom from political influence over interest-rate decisions.
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