Trump to nominate economic advisor Stephen Miran to be new Fed governor, replacing Kugler
On Thursday, President Donald Trump announced that he had chosen Stephen Miran, President of the Council of Economic Consultants on Friday, to a very important seat in the Federal Reserve Board instead of Adriana Kugler.
The candidate will fulfill the task of Kugler, which ended on January 31, 2026.
In the meantime, we will continue to look for a permanent spare, Tr Trump said in a real social article, showing that the full candidate of the 14 -year period on the board could be another one and Miran could only be a guard.
Stephen Miran, President of the Economic Consultant Council, after a television interview outside the White House in the United States on Tuesday, June 17, 2025.
Aaron Schwartz | Bloomberg | Getty Images
“Since the beginning of my second period, expertise in the world of economy will do a unique – extraordinary job.” Trump said. “Congratulations Stephen!”
In addition to the Kugler gap, which entered into force on Friday, the duration of the current President Jerome Powell ends in May. The current governor Christopher Waller, former Governor Kevin Warsh and National Economic Council Director Kevin Hassett are the possible candidates for this position.
Miran’s appointment comes in the midst of speculation that Trump’s work will mainly act as a gadfly on the board will try to nominate a “shadow chair”. Trump said on Wednesday that the Kugler seat candidate would be temporary instead of a permanent backup for Powell.
President sharply presses for lower interest rates. Miran, Fed’s past critic, especially during the Covid crisis aggressive stimuli actions.
In addition, it is the author of the controversial “Mar-A-Lago Accord”, which is a way to manage the current account deficit problem for the United States.
“Trump made a stopping appointment by choosing Miran and gave himself to make the main call until January,” He said. “In this way, Trump did not tie his hands, the new Fed Governor and especially the new Fed chair kept the options for the selection.”
Miran still needs a Senate approval for the Board of Directors of the Seven, which is unlikely to happen until the upper House is re -collected in September. The Federal Open Market Committee, which will be a permanent voting member, was gathered on the next 16-17 September. The markets are waiting for the committee to approve the first deduction since December 2024.
Tim Scott (SC), the President of the Senate Banking Committee, praised Miran as a “successful economist” in advising the economic politics and advanced a pro -growth agenda in the role of CEA President.
Scott criticized the Fed’s expansion project in two of the Washington buildings, adding that he was looking forward to hearing more about the transparency and accountability plans in the Federal Reserve to enable the agency to prioritize and prevent politics.
Miran was the senior strategist and a senior officer at the Hudson Bay Capital Management Institute at Hudson Bay Capital Management before he worked as a senior advisor for his economic policy under the first Treasury secretary at the White House.
The Treasury played an important role in the development of the Salary Protection Program after the economic closing of Covid in 2020. Since then, he spoke in favor of mutual tariffs that Trump used comprehensively as part of a global trade war this year, and at the same time a powerful crypto.
In addition to voting on interest rates, Miran’s role as governor will include financial regulation.
However, the most urgent role between approval and January can be an antagonist to Powell.
Trump strongly criticized the chief of the Central Bank, called him a name, demanded his resignation, and even made him legally controversial about ignition. Current Treasury Secretary Scott Bessent defended a shadow chair in the past, even though the Fed did not meet the demands of the administration, even though Powell’s positions could encounter an opposing voice that would express the White House’s positions in monetary politics.
At the FOMC meeting of the last week, two governors – Trump was appointed Waller and Michelle Bowman – Opposite the decision to keep the fund ratio constant overnight. For more than 30 years, more than one governor has voted against the rate decision for more than 30 years.
