Rate Cut Confirmed? Trump Nominates "Him" as Interim Fed Governor—May Make It in Time for September Policy Meeting!

According to CCTV News, U.S. President Donald Trump announced on Thursday (local time, 7th) that he has selected Stephen Miran, the current chairman of the White House Council of Economic Advisers, to fill the recently vacated seat on the Federal Reserve Board, with the term lasting until January 31, 2026.

Last Friday, Federal Reserve Governor Adriana Kugler unexpectedly announced her early resignation, effective August 8, providing Trump with an opportunity to install his own choice. Trump also stated that he would continue searching for a long-term replacement for the Fed position.

In a post on his social media platform Truth Social, Trump wrote, "I am very honored to announce that I have chosen Dr. Stephen Miran, the current Chairman of the Council of Economic Advisers, to fill the recently vacant seat on the Federal Reserve Board until January 31, 2026."

"At the same time, we will continue looking for a long-term replacement. Stephen holds a Ph.D. in Economics from Harvard and performed excellently in my first administration. He has been with me since the start of my second term, and his expertise in economics is unmatched—he will do an outstanding job. Congratulations, Stephen!" he added.

Stephen Miran previously served as an economic policy advisor at the Treasury Department during the "Trump 1.0" era. He was also a senior strategist at the capital management firm Hudson Bay Capital Management. Miran is considered one of the "architects" of Trump's tariff policies and a key designer of his economic agenda.