Trump Nominates Stephen Miran to Temporary Federal Reserve Board Seat
President Trump nominated Stephen Miran to the Federal Reserve board temporarily, filling a vacancy. Miran, an economist, is expected to advocate for lower interest rates and boost Trump's influence.
Trump nominates new Fed board member
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Overview
- President Trump nominated Stephen Miran to a temporary seat on the Federal Reserve's board of governors, filling a vacancy left by Governor Adriana Kugler's early departure.
- Miran's appointment is for four months, serving until January 31, 2026, while the administration searches for a permanent nominee for the position.
- A Harvard-trained economist and former Treasury advisor, Miran is known for defending Trump's tax cuts and tariff policies, signaling a potential shift in Fed influence.
- If confirmed by the Senate, Miran is expected to be a strong advocate for lower interest rates, aligning with President Trump's past criticisms of Jerome Powell.
- This nomination marks President Trump's initial move to increase his influence over the Federal Reserve, potentially raising concerns about political interference in the independent body.
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Analysis
Center-leaning sources frame the story by emphasizing potential challenges to the Federal Reserve's independence and highlighting the nominee's controversial policy views. They use strong language to describe market reactions and Trump's actions, while focusing on Stephen Miran's past criticisms of the Fed and his role in advocating for "sweeping tariffs," collectively suggesting a disruptive influence.
"Miran’s appointment has become less significant, Millar said."
USA TODAY"Miran’s nomination, if approved, would add a near-certain vote in support of lower interest rates."
ABC News"The choice of Miran may heighten concerns about political influence over the Fed, which has traditionally been insulated from day-to-day politics."
CBS News"Kugler's departure gives Trump his first opening to shape the seven-member governing board at the Fed since returning to the White House."
NPR"Miran would become the third Trump nominee to join the Federal Reserve, after Chair Jerome Powell and Vice Chair for Supervision Michelle Bowman."
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FAQ
Stephen Miran is a Harvard-trained economist, currently serving as chair of the Council of Economic Advisers since March 2025. He was a senior strategist at Hudson Bay Capital Management, co-founder of Amberwave Partners, and served as an economic policy advisor at the Treasury. He holds a PhD in economics from Harvard University.
Stephen Miran was nominated by President Trump to serve temporarily on the Federal Reserve Board of Governors until January 31, 2026. His appointment fills a vacancy left by Governor Adriana Kugler.
Miran is known for defending Trump's tax cuts and tariffs, advocating for lower interest rates, and a free-market stance. He supports reindustrialization policies to 're-shore' manufacturing and jobs to the U.S., and has critiqued expansive federal spending as inflationary.
Miran’s nomination by Trump signals an effort to increase presidential influence over the Fed. Given Miran’s expected advocacy for lower interest rates and past critiques of Fed independence, his appointment may raise concerns about political interference in the Fed’s traditionally independent policy making.
History
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