Federal Reserve Chair Jerome Powell didn't say much when asked about whether Fed Gov. Stephen Miran's presence on the committee brings the central bank's independence into question.

"We did welcome a new committee member today, as we always do," Powell said. "We remain committed to our dual mandate goals. We're strongly committed to maintaining our independence, and beyond that I don't have anything to share."

Powell has long resisted questions from the press related to the White House or its efforts to wield more control over the Fed, so his limited response comes as no surprise. But Miran — who is taking a leave of absence from his prior position as chair of the White House Council of Economic Advisers, is the first Fed member with such explicit ties to an administration in decades. Other former CEA chairs have served on the Fed board, but have typically resigned from those positions rather than retaining them.