Trump Eyes Fed Shake-Up: Stephen Miran Nominated for Interim Role
President Donald Trump has nominated Stephen Miran, the Council of Economic Advisers Chairman, to temporarily fill a vacant seat at the Federal Reserve. This move aligns with Trump's goal of achieving easier monetary policy. Miran's nomination requires Senate approval amid critical funding decisions and scrutiny from Democrats.
U.S. President Donald Trump announced the nomination of Stephen Miran, Chairman of the Council of Economic Advisers, to temporarily occupy a newly vacant seat at the Federal Reserve. His nomination comes as the White House is on the lookout for a permanent member for the central bank's governing board, while also seeking a new Fed chair.
Miran is set to replace Adriana Kugler after her unexpected resignation, noted for his calls for a complete overhaul of the Fed's governance. His term, set to end on January 31, 2026, is pending Senate approval, which highlights a current challenge as Democrats have delayed confirmations under Trump's administration.
Trump has been vocal about his desire for a more lenient monetary policy, putting pressure on current Fed policymakers, including Fed Chair Jerome Powell. Installing Miran, even temporarily, serves as a strategic move to gain influence over the central bank's decisions, with significant implications for U.S. economic policy.
(With inputs from agencies.)
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