Summary of Key Points from the Hearing of Federal Reserve Board Nominee Miran

In the sometimes intense exchanges, Federal Reserve Board nominee Miran, nominated by President Trump, stated that he supports the independence of the Federal Reserve, describing it as "a key factor in its success," and noted that the Federal Open Market Committee (FOMC) is "an independent organization with a significant mission."

However, this Federal Reserve nominee faced criticism from Democratic lawmakers, who posed a series of questions to Miran about how he would balance political loyalty to Trump while fairly fulfilling his duties at the Federal Reserve.

Republican lawmakers have explicitly expressed their support for his nomination.

With no opposition from Republicans, Miran is likely to pass the nomination process soon.

He could potentially join the Board at the next FOMC interest rate policy meeting in mid-September