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US President Donald Trump has nominated Stephen Miran, the chair of the White House’s Council of Economic Advisers, to temporarily fill a soon-to-be-vacant seat on the Federal Reserve’s board of governors.

The move follows the surprise early resignation of Governor Adriana Kugler, who is stepping down on Friday, more than five months before her scheduled term ends in January 2026.

Miran’s appointment, announced Thursday in a Truth Social post, is set to run through the end of January as the Trump administration continues searching for a permanent appointee.

If confirmed by the Senate, Miran will serve as a voting member of the powerful Federal Open Market Committee, the body responsible for setting US interest rates.

Miran, a Harvard-trained economist, is seen as closely aligned with Trump’s calls for aggressive interest rate cuts and has publicly defended the administration’s tariff and tax policies.

Kugler was appointed by Biden

Kugler, a Biden appointee who joined the Fed in September 2023, decided to leave early to return to her academic post at Georgetown University.

Her early exit presents Trump with a key opportunity to shift the central bank as he continues to criticise its stance on monetary policy.

Recent reports indicate Trump is likely to use the vacancy not just as a chance for short-term impact, but also as a step toward eventually reshaping the Fed’s leadership, potentially including the replacement of Chair Jerome Powell once Powell’s term ends in May 2026.

Miran’s nomination will now go to the Senate, which previously confirmed him as CEA chair by a close 53-46 margin earlier this year.

Until a permanent replacement is named and confirmed, Miran’s vote may prove influential on the FOMC, especially as debate over interest rate policy heats up.

The Federal Reserve declined to comment on the nomination.

The White House says its search for a long-term successor to Kugler is ongoing, with Trump signalling that more changes at the central bank could be on the way as his second term unfolds.

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