Trump taps top economic aide Stephen Miran for vacant US Fed seat
Dr Stephen Miran has advocated in favour of tariffs and moving away from a strong US dollar, which he argues makes US exports less competitive and harms US manufacturing.
WASHINGTON - US President Donald Trump on Aug 7 named the leader of his White House economic panel to fill a recently vacated seat on the Federal Reserve board, as he seeks to boost his sway over the independent central bank.
'It is my Great Honor to announce that I have chosen Dr Stephen Miran, current Chairman of the Council of Economic Advisors, to serve in the just vacated seat on the Federal Reserve Board until January 31, 2026,' he announced on his website, Truth Social.
'In the meantime, we will continue to search for a permanent replacement,' Mr Trump added.
Dr Miran will finish out the term of Ms Adriana Kugler, an appointee of former president Joe Biden who
announced her resignation last week.
The personnel shift comes as the Fed faces intensifying pressure under Mr Trump, who has repeatedly criticised the central bank's chief, Mr Jerome Powell, for not lowering interest rates sooner.
Dr Miran, who obtained a PhD in economics from Harvard, has advocated in favour of tariffs and moving away from a strong US dollar, which he argues makes US exports less competitive and harms American manufacturing.
Dr Miran's 41-page essay entitled 'A User's Guide to Restructuring the Global Trading System' has been seen as providing rationale for Mr Trump's aggressive trade policies.
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Mr Trump said Dr Miran would do an 'outstanding' job in his new post.
'Has been with me from the beginning of my Second Term, and his expertise in the World of Economics is unparalleled,' Mr Trump wrote.
'Congratulations Stephen!' AFP
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