US President Donald Trump announced his intention to nominate Stephen Miran, Chair of the White House Council of Economic Advisers, to the US Federal Reserve Board of Governors, replacing Adriana Kugler, who is stepping down on Friday.Miran’s term would run until January 31, 2026, and the nomination is subject to Senate confirmation.Trump said the White House is continuing its search for a candidate to fill a separate 14-year Fed board seat that will become vacant on February 1.“His expertise in the world of economics is unparalleled – he will do an outstanding job,” Trump wrote in a post on Truth Social. Kugler’s resignation before the end of her term is seen by analysts as potentially accelerating the process of selecting a successor to current Federal Reserve Chair Jerome Powell, whose term expires in May.Trump has repeatedly criticized Powell and has threatened to remove him, arguing that current interest rates are too high, hindering investment growth and preventing the US economy from returning to its previous pace.
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