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Senate Banking Committee reports Stephen Myron nomination favorably after 13–11 roll call amid independence concerns
Summary
The committee voted 13–11 to report Stephen Myron’s nomination for a Fed governor to the full Senate despite objections from several senators who raised concerns about his simultaneous White House role and refusal to disclose a legal opinion about holding both positions.
The Senate Committee on Banking, Housing, and Urban Affairs voted to report the nomination of Stephen Myron to the full Senate after a 13–11 roll call in executive session. The clerk announced "I have 13 ayes, 11 nays," and the chairman ordered the nomination reported favorably.
Several senators voiced sharp objections before and after the vote, saying Myron’s current White House role raised questions about his independence if confirmed to the Federal Reserve Board. An unidentified senator told the committee the nomination "sets up an obvious Trump loyalty test for doctor Myron," arguing that a governor who remains tied to the White House would lack credibility with markets, businesses and the public.
Committee members also said they had requested a written legal opinion on whether Myron can legally hold both roles. A senator who spoke after the vote said that the administration had refused to provide that opinion in writing and that the issue of his legal ability "to retain both jobs will be pressed further" as the nomination moves to the Senate floor.
The clerk’s roll call recorded a formal tally and the committee’s clerks placed the nomination on the record. After the vote the committee adjourned its executive session and prepared to open a public hearing on deposit insurance reform. The committee did not take any additional votes on amendments or procedural changes during that proceeding.
Next steps: The nomination is now reported to the full Senate for further consideration; the committee did not record additional procedural outcomes beyond the roll call and adjournment.
