Trump to nominate top economic aide Stephen Miran to Federal Reserve board

President Donald Trump said Thursday (August 7, 2025) he will nominate a top economic adviser to the Federal Reserve’s board of governors for four months, temporarily filling a vacancy while continuing his search for a longer-term appointment.

Mr. Trump said he has named Stephen Miran, the chair of the White House’s Council of Economic Advisers, to fill a seat vacated by Governor Adriana Kugler, a Biden appointee who is stepping down Friday (August 8, 2025). Mr. Miran, if approved by the Senate, will serve until January 31, 2026.

The appointment is Mr. Trump’s first opportunity to exert more control over the Fed, one of the few remaining independent federal agencies. Mr. Trump has relentlessly criticised the current chair, Jerome Powell, for keeping short-term interest rates unchanged, calling him “a stubborn MORON” last week on social media.