Fed Board Nominee Miran: Fed independence is paramount

Stephen Miran, United States (US) President Donald Trump's nominee to replace Federal Reserve (Fed) Governor Adriana Kugler, told CNBC on Tuesday that the Fed's independence is paramount.

Key takeaways

"Most economic data comes from surveys and there will be an element of noise, which has increased in recent years."

"Up to Senate whether approval happens by September meeting."

"Inflation has been well-behaved since Trump took office."

"I believe tariffs will be borne by the countries that we are tariffing."

"Other countries' investment commitments are real commitments."

Market reaction

The US Dollar Index stays in the lower half of its daily range following these comments and was last seen losing 0.2% on the day at 98.30.