Fed Nominee Miran Discloses Primary Residence is Now Rental

Stephen Miran, President Donald Trump's nominee for the U.S. Federal Reserve Board, has revealed in his latest financial disclosure statement that his primary residence is now being utilized as a rental property. The filing indicates a change in status for a mortgage secured on this home in 2022. This disclosure is particularly noteworthy given that the usage of mortgages has become a significant concern for Federal Reserve officials. The development coincides with President Trump's efforts to remove Fed Governor Lisa Cook, citing allegations that she obtained loans for properties designated as primary residences which were subsequently rented out. It is important to note that mortgage rates for primary residences are generally lower than those for rental properties. Although Miran's disclosure provides limited specifics, it does not imply any wrongdoing. This information is relevant to his ongoing Senate confirmation process, during which he has already faced scrutiny regarding his mortgage practices.