FED IN FOCUS, SEPT. 4, 2025

The following information was released by the American Financial Services Association (AFSA):

With conflicting economic data, from strong quarterly corporate financial reports in several important U.S. business sectors to jobs and inflation data that at times defies expectations, the role of the Federal Reserve remains in focus. This is one reason the confirmation hearing in the U.S. Senate for current chair of the White House Council of Economic Advisers Stephen Miran's nomination to the Federal Reserve Board of Governors is crucial. Consumers, businesses and markets appreciate certainty when it comes to both public policy and the economy.

That said, the Fed's role in setting monetary policy can sometimes seem detached from day to day economic and financial decisions most American consumers make. However, In as much as some Fed decisions do affect the price of funds that AFSA Member Companies make available as credit to consumers, as well as the interest rates that affect the cost of larger consumer goods, such as vehicles, the role and accountability of the Federal Reserve Board is coming into clearer focus for many Americans.

These are important decisions that do matter to consumers' bottom line, so we look forward to hearing Mr. Miran's views on the important role he will play on the Fed Board once confirmed. Ensuring a full Federal Reserve Board that is both accountable and engaged is important, and the Senate should move quickly to confirm Mr. Miran.