WATCH: Why YOU should care about the hypocrisy and corruption of Stephen Miran’s Fed Nomination
A Fed appointment is a political convenience for Stephen Miran and a major threat to working Americans’ economic security.
September 15, 2025
WASHINGTON, D.C. – Today, Senator Kim spoke on the Senate floor to demand the Senate work to restore trust, not erode it further by allowing Dr. Stephen Miran to serve on the politically independent Board of the Federal Reserve (the Fed) while still holding a position as an economic advisor to President Trump.
For this “blatant example of lacking integrity,” Senator Kim called on the Senate to not proceed with this nomination until Dr. Miran commits to resigning from the White House. The Fed is designed to be independent so it can look out for Americans’ financial stability and set interest rates without political interference from the White House or Congress.
Senator Kim’s FULL REMARKS.
Key quotes from Senator Kim’s remarks as prepared:
“I rise because the scarcest resource we have in politics right now is trust. Unfortunately, it is also the most important resource we need to heal our broken nation.”
“I asked Dr. Miran how he can square his past statements about concerns about the revolving door between politics, in particular the White House, and nominees to the FED. He said that he was talking about a package of reforms and that he shouldn’t be held to the standard that he put forward. It was straight up painful to watch.”
“If someone is willing to quickly and easily betray their previous strongly held beliefs, what does that say about everything else they believe in? Why should I believe what Dr Miran says about his positions on our economy, interest rates, or about FED independence when I see how quickly he is willing to change his mind when it suits him. He believes something until it is inconvenient for his career.”
“We want people that have such a powerful role affecting our economy to be solely focused on what is best for our economy. That’s why political interference must be constrained.”
“So this exposes the heart of the problem, which is that this couple of months temporary gig is really an audition for Miran to stay on Trump’s good side, keeping his fingers crossed for Trump to approve of his work so he gets the full nomination next year. Of course he will feel pressure to do as Trump wants on interest rates, and feel beholden to him.“
“These challenges and these conflicts of interest are exactly why Dr Miran previously called for a ban on a revolving door between the FED and the White House/executive branch.”
“There are many other reasons for Senators to oppose this nomination, but I wanted to focus on this one because I believe a majority of senators agree with this lack of independence.”
“Stephen Miran had every opportunity to do the right thing and ensure no corrupt conflicts of interest occur, but he refused. He had the chance to earn the trust of the United States Senate and the American people. But he refused. But we in this chamber can do the right thing.”
Earlier this month during a Senate Committee on Banking, Housing, and Urban Affairs hearing, Senator Kim questioned Dr. Miran about his plans to keep his job as President Trump’s Chief Economic Policy Advisor even when appointed to the seat on the Fed. This hearing was held just over a week after President Trump unlawfully attempted to fire a sitting member of the Federal Reserve Board. Senator Kim condemned this as, “reckless actions risk the financial security of our families and American businesses.”
###