Read Stephen Miran's Prepared Opening RemarksMiran Grilled on Fed Independence in Senate HearingLast Updated:1 day agoThank you for those kind words, Chairman Scott. Ranking Member Warren, distinguished Members of the Committee; it's a great privilege to sit before you all today, though back in February I didn't imagine I'd be back so soon. I’m honored to be nominated by the President and considered by this esteemed group.As the 32nd Chairman of the Council of Economic Advisers, I have advised the President and his Administration on fiscal and regulatory policies designed to achieve full employment and stable prices. These goals are declared in the Employment Act of 1946, mirroring the mandates in the Federal Reserve Act. And the responsibilities of both the CEA and the Federal Reserve to advance America's economic progress are further developed in the Full Employment and Balanced Growth Act of 1978. The two organizations share common goals, but enjoy different means.I have been studying and writing about monetary policy and macroeconomics for two decades, beginning with my doctoral research in economics at Harvard. I am thankful to have been advised by my CEA predecessor, Marty Feldstein. For the majority of my career, I was active in public markets, particularly interest rates and currencies. I learned firsthand the substantial sway that monetary policy and market structure hold over the price and availability of credit.