Trump to nominate economic advisor Stephen Miran to be new Fed governor

Meanwhile, Trump on Thursday announced the nomination of Stephen Miran, the chair of the Council of Economic Advisers, to fill a key vacancy on the U.S. Federal Reserve Board of Governors.

If confirmed, Miran is set to replace Adriana Kugler, who resigned last week.

Miran will serve out the remainder of her term, which runs through January 31st, 2026.

Trump noted on his social media that the search for a permanent appointee continues, suggesting Miran may only serve temporarily.

The appointment comes as Trump ups pressure on the Fed to cut interest rates.

Miran is expected to align more closely with Trump's push for looser monetary policy.