President Donald Trump said he will nominate Council of Economic Advisers Chairman Stephen Miran to fill the Federal Reserve Board seat vacated by Adriana Kugler, giving the White House a vote on U.S. monetary policy while it seeks a long-term appointee. The interim slot runs through Jan. 31, 2026 and would place Miran on the Federal Open Market Committee almost immediately. Miran has advocated sweeping changes to the Fed, including shorter governor terms, nationalizing its 12 regional banks and increasing presidential control. He has dismissed concerns that Trump’s 145% tariffs are inflationary, calling them “tariff derangement syndrome,” and supports sharply lower interest rates—aligning with Trump’s call for a near-1% federal funds rate, far below the current 4.25%-4.50% target range. The nomination is part of a broader effort to remake Fed leadership ahead of the May 2026 expiration of Chair Jerome Powell’s term. Former White House advisers Kevin Hassett and Kevin Warsh are being considered to succeed Powell, while Governor Christopher Waller is viewed as a contender for the chairmanship. Senate Banking Committee Chairman Tim Scott said he intends to move quickly on Miran’s confirmation after lawmakers return on Sept. 2, though Democratic Senator Elizabeth Warren vowed “tough questions” about his independence. If approved before the Sept. 16-17 FOMC meeting—when several banks expect a 25-basis-point rate cut—Miran could cast a decisive vote, intensifying debate over the Fed’s political autonomy.