Trump Nominates Economic Adviser Miran to Federal Reserve Board

President Donald Trump has nominated Stephen Miran, the current Chairman of the Council of Economic Advisers and a key architect of Trump's tariff policies, to fill a temporary vacancy on the US Federal Reserve Board of Governors until January 31, 2026. This nomination is significant as it marks Trump's first chance to influence the Fed, an institution traditionally insulated from political pressure, and Miran is expected to support Trump's push for lower interest rates. Miran has advocated for reforms increasing presidential control over the Fed, including shortening board members' terms and nationalizing regional banks, raising concerns about political interference in the Fed's independence. His appointment follows the resignation of Adriana Kugler, a Biden appointee, and coincides with ongoing debates over Fed policies amid inflation and interest rate decisions. While some economists view Miran's nomination as a capable choice, critics, including Senate Democrats, warn that his allegiance to Trump and support for controversial economic policies could compromise the Fed's mission. The Senate confirmation process is anticipated to be contentious, reflecting broader tensions over the Fed's role and governance.