President Trump has announced his nomination of Stephen Miran to temporarily fill a vacancy on the Federal Reserve’s Board of Governors, a role that could potentially lead to Miran becoming the Fed Chair.
Miran will succeed outgoing governor Adriana Kugler, who is set to step down today after announcing her resignation last week, without providing a reason for her departure.
Miran’s term on the Federal Reserve’s Board of Governors will extend until January 31, 2026.
Miran, a key figure advocating for the administration’s tariff policy, is currently the chair of the Council of Economic Advisers.
President Trump took to Truth Social to announce the nomination:
“It is my Great Honor to announce that I have chosen Dr. Stephen Miran, current Chairman of the Council of Economic Advisors, to serve in the just vacated seat on the Federal Reserve Board until January 31, 2026. In the meantime, we will continue to search for a permanent replacement. Stephen has a Ph.D. in Economics from Harvard University, and served with distinction in my First Administration. He has been with me from the beginning of my Second Term, and his expertise in the World of Economics is unparalleled — He will do an outstanding job. Congratulations Stephen!”
“I think that this seat is very important to the president,” Miran told reporters.
If the Senate confirms Miran, his appointment could pressure the Fed to lower interest rates. However, it’s still uncertain whether the Senate will appoint him before the Fed’s September 16-17 meeting.
By CEO NA Editorial Staff
