Trump Nominates Miran as Interim Fed Governor

President Donald Trump has nominated Stephen Miran, his current Chairman of the Council of Economic Advisers and a vocal critic of the Federal Reserve, to temporarily fill the board seat vacated by Adriana Kugler’s early resignation. If confirmed by the Senate, Miran will serve until January 31, 2026, giving Trump immediate influence over the central bank as he pushes for interest rate cuts and considers additional appointments, including potentially replacing Fed Chair Jerome Powell when his term expires in May. Miran is known for advocating aggressive tariffs, a weaker US dollar, and increased presidential control over the Fed. His nomination is viewed as a tactical move to give Trump a direct voice at the Fed and to potentially reshape its governance. The announcement caused the US Dollar Index to decline, reflecting market concerns about possible shifts in monetary policy. Miran’s confirmation would mark a significant step in Trump's effort to recalibrate the balance of power between the executive branch and the traditionally independent Federal Reserve.