Trump nominates top economic adviser Stephen Miran to Federal Reserve Board

President Donald Trump has nominated Stephen Miran, chairman of the White House Council of Economic Advisers, to temporarily fill a vacancy on the Federal Reserve Board of Governors left by Adriana Kugler's departure. If confirmed by the Senate, Miran would serve until January 31, 2026, while Trump continues to search for a permanent appointee. Miran, a Harvard-trained economist and former Treasury official, is known for his support of Trump's income tax cuts and tariff policies and has criticized the Fed's independence, advocating reforms. His nomination marks Trump's first significant attempt to influence the Fed, which has traditionally operated independently, as Trump has repeatedly pressured the central bank to lower interest rates and criticized Chair Jerome Powell. Miran's appointment is expected to add a vote favoring lower interest rates on the Fed's rate-setting committee, potentially affecting future monetary policy decisions. This move has raised concerns about increased political influence over the Federal Reserve during a period of economic uncertainty and inflation concerns.