Trump's Fed nominee says he'd keep his White House job even if confirmed by the Senate

WASHINGTON: Stephen Miran, President Donald Trump's pick to join the Federal Reserve board, said Thursday that he would remain a White House employee even if the Senate confirms him to fill an unexpired term as a governor for the central bank.

Miran, who was nominated to fill a term set to expire in January, made the disclosure at his confirmation hearing before the Senate Banking, Housing and Urban Affairs Committee.

He said he would instead take an "unpaid leave of absence" as chairman of the White House Council of Economic Advisers on the advice of his lawyers and would only resign from the administration if he were nominated for a longer term at the Fed.