WASHINGTON, D.C.—Shayna Olesiuk, Director of Banking Policy, issued the following statement in connection with Better Markets’ new Fact Sheet, “Key Questions that the Senate Should Ask Trump Advisor Stephen Miran at His Fed Nomination Hearing,” ahead of nominee Stephen Miran’s confirmation hearing before the United States Senate Committee on Banking, Housing, and Urban Affairs:

“The Federal Reserve (‘Fed’) Board of Governors is one of the most important and influential financial regulatory bodies in the United States and the world. Not only does Miran lack the experience that is necessary to be an effective Fed Governor, but he is also rendered unfit by his political allegiance to Trump and his radical policy views.

“The American people deserve Fed Governors who are committed to making fact-driven, unbiased monetary policy decisions, protecting the best interests of Main Street Americans, and safeguarding the safety, soundness, and stability of the banking system.

“To effectively serve the American people, a Fed Governor must have several key attributes:

• Strong background in monetary policy, bank regulation, and central banking;
• A proven record of independent, data-driven economic decision-making;
• A commitment to the Fed’s mission and dual mandate of price stability and maximum employment; and
• A proven understanding of the need for financial stability and advocacy for policies that promote it.

“Unfortunately for the American people, what we know about Miran so far suggests that he may not satisfy these qualifications. We urge the Committee to press Mr. Miran on these issues.”

The fact sheet is available online here.

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Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies—including many in finance—to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.org.