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Investing.com -- President Donald Trump plans to nominate Council of Economic Advisers Chairman Stephen Miran to serve as a Federal Reserve governor, according to a post on Truth Social on Thursday.
"It is my Great Honor to announce that I have chosen Dr. Stephen Miran, current Chairman of the Council of Economic Advisors, to serve in the just vacated seat on the Federal Reserve Board until January 31, 2026," Trump wrote.
The announcement comes after Fed Governor Adriana Kugler said last week she would leave her position on Friday.
Trump indicated Miran would serve temporarily while the administration searches for a permanent replacement. This aligns with the president’s statement on Wednesday that he would likely nominate a temporary governor rather than someone positioned to succeed Fed Chair Jerome Powell, whom Trump has frequently criticized over monetary policy.
Miran holds a Ph.D. in Economics from Harvard University and previously served in Trump’s first administration.
"He has been with me from the beginning of my Second Term, and his expertise in the World of Economics is unparalleled — He will do an outstanding job," Trump stated in his announcement.