The position, which comes with a spot on the interest rate-setting Federal Open Market Committee, comes after Fed Governor Adriana Kugler resigned early.

Stephen Miran, a key economic advisor to President Trump, has been nominated to fill a temporary vacancy on the Federal Reserve Board. His appointment comes at a critical time as the Fed faces pressure to lower interest rates.

P resident Donald Trump has nominated Stephen Miran, chair of the White House Council of Economic Advisers, to the Federal Reserve Board of Governors, filling the seat vacated by Adriana Kugler, who resigned months before her term was set to expire in January 2026.