Trump to nominate top economic aide Stephen Miran to Federal Reserve board

Washington – President Donald Trump said on Thursday that he would appoint better economic advisor to the Governors of the Federal Reserve for four months, temporarily fulfilling a vacancy while continuing his search for a longer -term appointment.

Trump said he appointed Stephen Miran, president of the White House economic advisers’ council, to fill a seat canceled by governor Adriana Kugler, a named Biden who moved on Friday. Miran, if it is approved by the Senate, will serve until January 31, 2026.

The appointment is Trump’s first opportunity to exercise more control over the Fed, one of the rare independent independent agencies. Trump relentlessly criticized the current president, Jerome Powell, for maintaining the short -term interest rates unchanged, calling her “an obstinate mor” last week on social networks.

Miran was a major defender of Trump’s income tax and pricing increases, arguing that the combination will generate enough economic growth to reduce budget deficits. He also played the risk that Trump’s prices will generate higher inflation, a major concern for Powell.

The choice of Miran can increase concerns about political influence on the Fed, which has traditionally been isolated from daily policy. The independence of the Fed is generally considered to be the key to ensure that this can take difficult measures to combat inflation, such as increase in interest rates, which politicians may not want to take.

The governors of the Federal Reserve vote on all interest rate decisions of the Central Bank, as well as on its financial regulatory policies.

The appointment of Miran, if approved, would add a vote almost certainly in support of lower interest rates. Kugler had echoed Powell the point of view that the FED should maintain unchanged rates and further assess the impact of prices on the economy before making movements.

During his last recent meeting last week, Fed officials kept their key rate unchanged at 4.3%, where it happened after three rate drops at the end of last year. But two nourished governors – Christopher Waller and Michelle Bowman – dissidents of this decision. The two were appointed by Trump in his first mandate.

However, even with Miran on the board of directors, 12 Fed officials vote on interest rate policy and many remain concerned that Trump’s radical prices could push higher inflation in the coming months.

After the publication of the July job report last Friday, Miran criticized the Fed chair for not having reduced reference interest rates, saying Trump had proven to be correct on inflation during his first mandate and would be again. The president has put Powell to reduce short -term interest rates under the conviction that his prices will not make more inflationary pressures.

“What we see now in real time is again a rehearsal of this model where the president will end up having been proven,” said Miran on MSNBC. “And the Fed goes, with a gap and probably too late, will end up catching up with the president.”