Economist Christopher Phelan Nominated for Pivotal CEA Role

President Donald Trump announced his nomination of University of Minnesota economist Christopher Phelan as the next chairman of the White House Council of Economic Advisers on Tuesday.

Phelan is set to take over from Stephen Miran, pending Senate confirmation. Miran departed the position to join the Federal Reserve Board of Governors last September. The council's vice chairman, Pierre Yared, has been acting as the interim leader during the transition period.

Phelan, a seasoned economist with a focus on central bank operations, received his undergraduate degree from Duke University and his doctorate from the University of Chicago. He has previously worked with the Federal Reserve Bank of Minneapolis and is seen as a strategic addition to President Trump's economic team.

(With inputs from agencies.)