Trump Nominates Miran to Temporary Federal Reserve Board Seat

President Donald Trump has nominated Dr. Stephen Miran, chairman of the White House’s Council of Economic Advisers, to temporarily fill a vacancy on the Federal Reserve’s Board of Governors until January 31, 2026. Miran, a Harvard-trained economist credited with shaping Trump's economic policies including tariffs, will replace outgoing governor Adriana Kugler, a Biden appointee who resigned unexpectedly. His appointment is viewed as likely to tilt the Fed's policy stance toward lowering interest rates, aligning with Trump's long-standing pressure on the Federal Reserve to cut rates amid concerns about inflation and economic slowdown. Miran's confirmation by the Senate would give him a vote on monetary policy decisions, potentially influencing the Fed's approach during a period of debate over whether to hold or reduce interest rates. Trump praised Miran's expertise and prior service in his administrations, emphasizing the ongoing search for a permanent board member. The nomination comes amid heightened political scrutiny of the Fed's independence and efforts by Trump to steer the central bank's policy amid economic challenges.