Trump Nominates Stephen Miran to Federal Reserve Board

President Donald Trump has nominated Stephen Miran to the Federal Reserve’s Board of Governors, marking a significant effort to influence the central bank's direction amid ongoing tensions with current Fed Chair Jerome Powell. Miran, known for his critical stance on the Fed's independence and his advocacy for 'monetary federalism,' proposes reforms that would increase presidential control over the Fed, raising concerns about politicization of monetary policy. Trump is also actively considering candidates for the next Fed chair as Powell's term nears expiration, with names including Christopher Waller, Kevin Warsh, Kevin Hassett, and James Bullard under consideration. Miran's nomination, if confirmed, could align the Fed’s policies more closely with Trump’s economic goals, particularly in lowering interest rates to stimulate growth. These moves have sparked debate among economists and lawmakers about the future independence and effectiveness of the Federal Reserve in managing inflation and economic stability.