President Trump Nominates Stephen Miran to Federal Reserve Board Amid Rate Pressure

President TRUMP has appointed Dr. Stephen Miran, Chairman of the Council of Economic Advisors, to the Federal Reserve's Board of Governors. Miran will fill the seat vacated by Adriana Kugler, serving an interim term until January 31, 2026. The nomination comes as Trump intensifies pressure on Fed Chair Jerome Powell to lower interest rates—a move that typically stimulates borrowing and spending but risks exacerbating inflation.

Miran, a Harvard-trained economist, previously advised the Treasury during Trump's first term and worked as a senior strategist at Hudson Bay Capital Management. His selection signals a push for dovish monetary policy, aligning with Trump's preference for cheaper credit. Markets will scrutinize whether Miran's arrival shifts the Fed's stance on rate cuts amid persistent inflation concerns.