President Donald Trump announced Thursday that he will nominate Stephen Miran, chair of the White House’s Council of Economic Advisers, to temporarily join the Federal Reserve’s Board of Governors. The move fills the vacancy left by Governor Adriana Kugler, a Biden appointee stepping down Friday.
If confirmed by the Senate, Miran will serve on the board until January 31, 2026.
This marks Trump’s first opportunity to influence the Fed, one of the last major federal agencies that operates with a degree of independence. The president has been a persistent critic of current Fed Chair Jerome Powell, faulting him for keeping short-term interest rates unchanged.
Miran has been a vocal supporter of Trump’s economic agenda, defending the president’s income tax cuts and tariff increases. He has argued that the policy mix will spur enough growth to reduce budget deficits, while downplaying concerns that tariffs could fuel higher inflation — a key worry for Powell.
