President Trump announced Thursday that he will nominate Stephen Miran, the current chair of his Council of Economic Advisers, to fill a temporary vacancy on the Federal Reserve Board through Jan. 31, 2026.
Miran is expected to take the seat being vacated by Adriana Kugler, a Biden appointee who is leaving six months early to return to her faculty position at Georgetown University.
This nomination gives President Trump his first direct opportunity to influence the Federal Reserve’s policymaking since returning to office. He has repeatedly pressured the central bank to consider lower interest rates, and naming a board member aligned with his economic priorities could affect future deliberations.
The nomination must be confirmed by the Senate. Given the timing, confirmation could extend beyond the Fed’s September policy meeting, meaning Miran may not be seated in time to participate in upcoming decisions. The White House also said it will continue searching for a permanent nominee to fill the seat after the temporary appointment expires.
As a temporary appointee, Miran would serve through the end of January 2026, allowing the administration additional time to select and advance a long-term candidate while ensuring the Fed board maintains its complement of members during that period.