Chicago – August 07, 2025
President Donald Trump has announced that he will nominate Stephen Miran to temporarily serve on the Federal Reserve Board of Governors. Miran, who is currently the chairman of the Council of Economic Advisors, will fill a vacancy left by Adriana Kugler, who recently resigned.
Trump said that Miran’s appointment is temporary, lasting until January 31, 2026, as the administration continues to search for a permanent replacement. This move marks Trump’s first attempt during this term to influence the Federal Reserve, an independent institution that sets important policies like interest rates.
Stephen Miran holds a Ph.D. in Economics from Harvard University and has served as an economic policy adviser in the Treasury Department as well. Trump praised Miran’s expertise in economics and expressed confidence that he will do an outstanding job on the Fed board.
Miran has been a vocal supporter of Trump’s economic policies, including tax cuts and tariffs, and has previously criticized the current Fed Chair, Jerome Powell, especially around decisions about interest rates and fiscal stimulus.
This nomination requires confirmation by the Senate before Miran can officially take the role. Until then, he is expected to serve temporarily, helping to guide the nation’s economic policies through the Federal Reserve during this interim period.
