Democrats on the Senate Banking Committee are urging its chairman to delay a hearing scheduled for next week for a Federal Reserve Board nominee following President Donald Trump’s attempt to fire a Fed governor sitting in a separate seat.
The panel’s Democrats urged Chairman Tim Scott, R-S.C., to postpone the Sept. 4 confirmation hearing that includes Stephen Miran, tapped by Trump to fill the Fed seat of Adriana Kugler, who resigned this month.
The Democrats said the Banking, Housing and Urban Affairs Committee should put Miran’s nomination on hold until it tackles broader questions related to Trump’s effort to “unlawfully remove” Fed Governor Lisa Cook. They said it’s the first time in history a president has tried to fire a Fed board member.
