Stephen Miran, President Donald Trump's pick to join the Federal Reserve Board of Governors, is testifying on Capitol Hill. CBS MoneyWatch correspondent Kelly O'Grady breaks down Miran's remarks.

Washington

President Trump's nominee for the open Federal Reserve governor position, Stephen Myron, has stated during Senate testimony that he will preserve the independence of the central bank if confirmed. Myron emphasized that his decisions would be based on his own analysis of economic data and not influenced by political considerations, highlighting the importance of the Fed's autonomy for economic stability.

Questions were raised about Myron's current role as head of the Economic Council and whether he would remain in that position if appointed to the Fed. Myron indicated he would only leave his White House role if nominated for a longer term, which has led to further inquiries regarding his ability to maintain independence from the administration.

Trump's pick for Fed governor says he will preserve independence

Our cameras on Capitol Hill watching two hearings in the Senate. So lawmakers already grilling Health and Human Services Secretary Robert F. Kennedy Jr. over changes to COVID vaccine policies. We're going to bring you more of that hearing in the next hour. But first, we just heard from President Trump's nominee for the open Federal Reserve governor role. It's Stephen Myron began his testimony addressing the big question, will he preserve the independence of the Federal Reserve? Here's what Stephen had to say. I couldn't be more in agreement that independence of the central bank is of paramount importance for the economy, for financial markets, for the long run stewardship of the country. All of those are completely in complete accord with. Look, the president nominated me because I have policy views that I suppose that he liked. If I'm confirmed to this role, I will act independently as the Federal Reserve always does based on my own personal analysis of economic data, my own personal analysis of the effects of economic policies upon the economy and act based on my judgment of where my judgment of the best economic policy possible. That said, I'm always happy to hear views from every source possible. It's important to me to hear a variety of views to make sure that I really do think that the things that I think to challenge my own views and interrogate them and hearing a variety of views on that matter is always helpful. So let's break this down. CBS News Money Watch correspondent Kelly O'Grady. Kelly, it sounds like he's a pretty straight shooter. The big question is, will it be received that way by the people who are asking the questions? What else have we heard from the nominee? Yeah, a lot of what he's been saying, Reid, echoes what you played in that clip, the independence of the Federal Reserve. And just as a reminder for folks at home, the independence of that central bank is very important because you want them to be able to make decisions about interest rates to combat high inflation and keep enough economic growth that the labor market remains at full employment. And sort of those are those are the two things that you utilize interest rates and you don't want political influence sort of shifting you one way or another because then you're not able to do that mandate justice. So we have heard a lot about that independence and his commitment to that. He did decline or didn't answer a question about whether he would advise President Trump on which Fed governors, whether to remove them or not. Of course, remember, you can't remove someone without cause. That's really the big sort of theme around all of this back and forth with Fed Governor Lisa Cook that is happening right now. But I think the most interesting thing that I just picked up within the last half hour or so is that he wouldn't leave his position at the White House. So right now he is the head of the Economic Council. And you often do see people who run that, who have that position move over to be a Fed governor. This isn't out of the realm of what we have seen in history, but there's a lot of questions around maintaining that independence if you are still associated with the administration in that way. And he went on to say that unless he were nominated to a longer term. So remember, they're replacing Kugler, whose term was supposed to be up in January. Only then would he step away from that position. So there's a lot of questions. I'm sure there's going to be a lot of follow up questions on that particular piece, Reid.

A powerful aftershock struck eastern Afghanistan late on Thursday night. More than 2,200 people have already died the quake. Rescue crews are still searching remote villages, but rescue efforts are hampered by rough terrain and aftershocks. The World Food Programme says food stocks are running low and could be exhausted within weeks.

Kabul

Afghanistan quake death toll passes 2200 as food supplies run low

What happens in Ukraine once the war with Russia is over? France tells President Volodymyr Zelenskyy that 26 nations are now ready to offer security guarantees, including the possible deployment of foreign troops as part of a post-war peace arrangement.

Paris

Ukraine Invasion

Ukraine's European allies agree security guarantees

CEOs from some of the nation's biggest tech companies sat down for a dinner with President Trump on Thursday. Among those present were Tim Cook, Sam Altman, Bill Gates and Mark Zuckerberg.

Trump hosts Mark Zuckerberg, Bill Gates and other tech CEOs

U.S. President Donald Trump had a call with Ukrainian President Volodymyr Zelenskyy and other European leaders Thursday about Russia's war in Ukraine. CBS News White House reporter Olivia Rinaldi has more.

Trump speaks with Zelenskyy, pushes Europe to stop buying Russian oil

"With infinite sorrow, the Armani Group announces the passing of its creator, founder, and tireless driving force: Giorgio Armani," the fashion house said in a statement on Thursday.

Milan

'King' of Italian fashion Giorgio Armani dies at 91

A federal judge on Wednesday ruled that U.S. President Donald Trump's administration unlawfully terminated about $2.2 billion in grants awarded to Harvard University and can no longer cut off research funding to the prestigious Ivy League school.

Cambridge

Trump admin unlawfully cut Harvard's funding, U.S. judge rules

Russian President Vladimir Putin has delivered a statement after meeting leaders on the sidelines of the military event in Beijing. He spoke about Russian security interests, and the Ukraine war.

Moscow

Putin wraps China visit with gas deal, calls for Ukraine peace talks

Hope is fading of finding survivors in the rubble of homes devastated by a powerful earthquake in eastern Afghanistan over the weekend that killed more than 1,400 people, as emergency services struggle to reach remote villages.

Kunar

Hope fades for finding survivors after Afghan quake kills over 1400

Portuguese authorities say at least 15 people died after a streetcar derailed and crashed in the capital of Lisbon. CBS News senior foreign correspondent Imtiaz Tyab has the latest.

Lisbon

Iconic streetcar in Portugal's Lisbon derails, 15 killed

Democratic Rep. Ro Khanna, along with Republican Reps. Thomas Massie and Marjorie Taylor Greene, held a news conference on Wednesday with survivors of Jeffrey Epstein and Ghislaine Maxwell's sexual abuse. CBS News' Caitlin Huey-Burns has more details.

Epstein survivors add voices to calls for transparency

Israel's central intelligence agency, Shin Bet, said that it thwarted an assassination plot by Hamas against the country's right-wing minister of national security, Itamar Ben-Gvir, Reuters reports.

Tel Aviv-Yafo

Israel reportedly thwarted plot to assassinate right-wing minister

In California on Tuesday, a jury took less than an hour to clear Cardi B of assault allegations made in a $24 million civil lawsuit. A security guard claimed the rap star attacked her in 2018.

Los Angeles

Cardi B wins civil case against security guard

Secretary of State Marco Rubio said on Tuesday that the U.S. military struck a boat apparently carrying drugs from Venezuela. CBS News' Charlie D'Agata has the latest details.

Trump says U.S. struck drug-carrying boat from Venezuela

China's Xi Jinping welcomed Russian President Vladimir Putin and North Korea's Kim Jong Un, along with other world leaders, for a huge military parade showing off new technology.

Beijing

Vladimir Putin, Kim Jong Un attend China's massive military parade

A Republican-led U.S. House of Representatives committee said it released more than 33,000 pages of files on the disgraced financier and convicted sex offender Jeffrey Epstein, as party leadership looked to end a push by a bipartisan pair of lawmakers to force a vote on the matter.

U.S. House committee releases thousands of Epstein files

French Prime Minister Francois Bayrou last week called for parliament to hold an earlier-than-expected vote of confidence in him. Next week’s ballot could lead to the collapse of his centrist government and prompt a period of further instability in the European Union’s second biggest economy.

France’s PM faces crucial confidence vote amid political turmoil

Tens of thousands of reservists began to report for duty on Tuesday for a new Israeli offensive to seize Gaza City, which Prime Minister Benjamin Netanyahu wants to accelerate despite warnings from senior ranks.

Middle East Conflict

Israel calls up reservists as military chief clashes with ministers

The House Oversight Committee on Tuesday released over 33,000 pages of documents related to sex offender Jeffrey Epstein.

33,000 pages of Jeffrey Epstein documents released by House panel

Belgium joins the ranks of Australia, France, Canada and the UK, all who have pledged to recognize a Palestinian state at the UNGA next week in a bid to ramp up pressure on the Israeli government to end the war in Gaza.

Brussels

Belgium to recognize Palestine at the UN General Assembly

A powerful 6.0 magnitude earthquake in eastern Afghanistan killed at least 1,400 people, according to the Afghan Red Crescent Society. Thousands more were  injured.

At least 1,400 killed in powerful Afghanistan earthquake

The death toll from Afghanistan's worst earthquake in years jumped to over 1,100 with thousands more injured, as difficult terrain hindered rescue efforts in isolated villages of the country's mountainous eastern region.

Taliban appeals for aid after quake kills over 1100 in Afghanistan

The leaders of Russia, China and India showcased a renewed commitment to co-operation on the second day of the Shanghai Cooperation Organization summit. Analysts says the friendliness is designed to project an unified alternative to the West.

Tianjin

Russia, China, India tout renewed co-operation

A plane carrying European Commission President Ursula von der Leyen was disrupted by jamming that authorities suspect was the result of Russian interference in Bulgaria.

Plovdiv

Von der Leyen's plane affected by alleged Russian GPS jamming

The world's leading genocide scholars' association has passed a resolution saying that the legal criteria have been met to establish Israel is committing genocide in Gaza, its president said on Monday (September 1).

Jerusalem

Israel committing genocide in Gaza, scholars' association says

Chinese President Xi Jinping and Russian President Vladimir Putin outlined a new global security and economic order at a regional summit on Monday (September 1), as India and Russia continued to express strong ties between their nations.

China's Xi, Russia's Putin share vision for new global order

A devastating 6.0 magnitude earthquake struck eastern Afghanistan late Sunday, killing more than 800 people and injuring hundreds more, officials said. CBS News senior foreign correspondent Holly Williams reports.

Powerful earthquake in Afghanistan kills hundreds, destroys villages

Iran-backed Houthis raided offices of the United Nations’ food, health and children's agencies in Yemen’s capital, detaining several UN employees, officials said. The rebels tightened security across Sanaa following the Israeli killing of their prime minister and several Cabinet members.

Sana'a

Houthis raid UN offices in Yemen, detain 11 employees

A large buildup of U.S. naval forces in and around the Southern Caribbean has officials in Caracas and experts in the United States asking: is the move aimed at combating drug cartels, as the Trump administration has suggested, or is it for something else entirely?

Breakdown