Trump Drive to Shape Fed Progresses With Rapid Miran Hearing (1)

President Donald Trump’s campaign to reshape the Federal Reserve gains ground on Thursday with an accelerated Senate confirmation hearing on his nomination of a close adviser to be a governor of the central bank.

The Senate Banking Committee’s examination of Stephen Miran’s appointment will provide the first extended look at how prominent Republican senators balance their long-standing support of an independent central bank against loyalty to their party leader. Trump has publicly vowed to gain a “majority, very shortly” on the Fed and bring down interest rates.

Stephen Miran

Photographer: Francis Chung/Politico/Bloomberg

No Republican senators have yet suggested they would oppose ...