Andy Kim

Sept. 15 (UPI) — Senate Republicans on Monday confirmed White House economic adviser Stephen Miran to join the Federal Reserve Board despite staunch Democratic concerns about his independence.

The Senate voted 48-47 mostly along party lines to narrowly approve Miran’s nomination to serve as governor on the Federal Reserve Board, an independent nonpartisan agency that has been targeted by the Trump administration as it seeks to consolidate federal government power.

He will fill the remainder of Adriana Kugler’s 14-year term, which is set to expire in January.

As one of seven Fed governors, Miran will be a key economic policymaker, voting on the country’s monetary policy, including U.S. interest rates, which President Donald Trump has been calling to be lowered for much of his second term.

Democrats have been in vocal opposition to Miran’s nomination, saying his appointment to the board would undermine its independence due to his loyalty to Trump and the fact that he will remain chair of the White House Council of Economic Advisers.

“Stephen Miran isn’t being nominated to help families. He’s being put on the Fed to do Trump’s bidding,” Sen. Ruben Gallego, D-Arizona, said in a statement defending his “no” vote.

“He’ll do whatever helps Trump politically and leave us all with higher prices and a bad job market.”

Republicans backed the nomination, with the GOP-led U.S. Senate Banking Committee Chairman Tim Scott, R-S.C., saying it is “a win” for the American people.

“He brings deep experience, proven leadership and a clear commitment to ensuring the American economy remains strong and competitive. I am confident Dr. Miran will act in an independent manner,” Scott said in a statement.

The Senate took up the vote Monday after the Senate Banking Committee earlier in the day voted to advance Miran’s nomination for the seat left vacant by Kugler, a Biden nominee, who abruptly resigned.

Miran said during the committee hearing that he would take a leave of absence from his position at the White House while finishing the remainder of Kugler’s term. That unusual arrangement and Trump’s pressure campaign to get the Fed to lower interest rates has stoked concern about the independence of the central bank.

“You are going to be technically an employee of the president of the United States, but an independent member of the board of the Federal Reserve?” Sen. Jack Reed, D-Rhode Island, said during the hearing. “That’s ridiculous.”

Miran said during the hearing that his thinking process would be independent while serving on the board. Sen. John Kennedy, R-La., replied that they would hold him to that.

Sen. Andy Kim, D-N.J., said in a recorded statement before the Senate vote that if Miran is confirmed he will call for him to resign as Trump’s chief economic advisor.

“He cannot have someone simultaneously working for the White House, working directly under Donald Trump, and sitting on the board of the Federal Reserve,” he said, adding that several of his Republican colleagues have told him that they are also “very uncomfortable” with arrangement.

“If he wants to go, he has to resign his position at the White House.”

The Fed is expected to begin discussions on interest rates Tuesday.

Federal Reserve Chair Jerome Powell has been reluctant to lower the cost of borrowing despite sharp criticism and insults by Trump, who is viewed as seeking to undermine the central bank’s independence.

Trump has attempted to fire Federal Reserve Governor Lisa Cook, alleging she committed mortgage fraud. A judge earlier found the charge to be unfounded and ordered her to be reinstated.

SEOUL, Sept. 12 (UPI) — South Korean Foreign Minister Cho Hyun called on Washington on Friday to reform its visa policies to avoid a repeat of last week’s immigration raid and detention of South Korean workers at a Hyundai electric battery plant in Georgia.

Cho met U.S. Sens. Todd Young, Bill Hagerty and Andy Kim in Washington on Wednesday and Thursday to express the South Korean public’s “deep concern” over the arrests of its professionals, the ministry said in a statement.

Multiple agencies led by U.S. Immigration and Customs Enforcement arrested 475 people, most of whom are South Korean nationals, at a Hyundai-LG Energy Solutions battery plant near Savannah, Ga., on Sep. 4.

After being held for a week, 316 South Koreans and 14 other employees were released and departed from Atlanta on a charter jet late Thursday morning local time.

The plane landed at Incheon International Airport near Seoul at around 3:23 p.m. on Friday, news agency Yonhap reported.

In his meeting with the senators, Cho “emphasized the urgent need for fundamental measures to prevent recurrence of such incidents and to protect our workforce from unfair treatment so that Korean companies can fulfill their investment commitments in the United States,” the ministry said.

He urged Congress to support visa reform, including the introduction of a new visa category for South Korean professionals on investment projects.

The senators “agreed that this incident should not negatively impact economic cooperation between South Korea and the United States,” according to the ministry.

“They welcomed the agreement between the two countries to explore long-term solutions, including the establishment of a South Korea-U.S. working group, to prevent similar incidents,” the ministry said. “They also pledged to explore necessary institutional support, including legislative action.”

On Thursday, South Korean President Lee Jae Myung called the immigration raid “perplexing” and said it could deter firms from making future investments in the United States. Lee touched on the subject during a press conference marking his 100th day in office, noting that South Korean firms regularly send skilled workers for short stays to help establish overseas factories.

The roundup came less than two weeks after Lee met with Trump in the White House, and has sparked widespread public shock and anger in South Korea. Seoul and Washington are looking to finalize a trade deal struck in July that includes a $350 billion investment pledge by South Korea.

Without visa reform, companies “will have to worry about whether establishing a local factory in the United States will be subject to all sorts of disadvantages or difficulties,” Lee said.

“Under the current circumstances, Korean companies will be very hesitant to make direct investments in the United States,” he said.