Trump picks Stephen Miran to fill open spot on Fed board
Stephen Miran, chairman of the Council of Economic Advisors, walks at the White House, Jun 1, 2025, in Washington. (File photo: AP/Alex Brandon)
WASHINGTON: US President Donald Trump on Thursday (Aug 7) said he will nominate Council of Economic Advisers chairman Stephen Miran to serve as a Federal Reserve governor.
Miran would replace Fed governor Adriana Kugler, who announced her surprise resignation last week to return to her tenured professorship at Georgetown University.
The term expires on Jan 31, 2026, and the appointment is subject to Senate approval.
Trump said the White House is also looking for a nominee to fill the 14-year Fed board seat that becomes vacant on Feb 1.
Miran has called for a far-reaching overhaul of Fed governance, including shortening board member terms, placing the institution under clear presidential control, and ending the "revolving door" between the executive branch and the Fed.
Trump has repeatedly pressed the Fed to cut interest rates without success. If confirmed by the Senate, Miran would hold one of 12 votes on monetary policy at the Fed, which voted 9-2 last month to keep rates steady.
