Trump picks Stephen Miran to fill open spot on Fed board

Reuters

Thu, Aug 7, 2025, 3:39 PM 1 min read

WASHINGTON (Reuters) -U.S. President Donald Trump on Thursday said he will nominate Council of Economic Advisers Chairman Stephen Miran to serve as a Federal Reserve governor.

Miran would fill the position opened by Fed Governor Adriana Kugler's surprise resignation announced last week, as she returns to her tenured professorship at Georgetown University.

The term expires January 31, 2026 and is subject to approval by the Senate.

Trump said the White House continues to search for someone to serve in the 14-year Fed Board seat that opens February 1.

Miran has advocated for a far-reaching overhaul of Fed governance that would include shortening Board member terms, putting them under the clear control of the president, and ending the "revolving door" between the executive branch and the Fed.

Trump has unsuccessfully pushed the Fed to cut rates. Miran, if confirmed by the Senate, would have one of 12 votes on monetary policy at the Fed, which voted 9-2 last month to keep rates steady.

(Reporting by Jasper Ward; Editing by Andrea Ricci)