The President of the United States Donald Trump named Dr. Stephen Mirana, often credited with the “mind” of Trump’s economic policies, including tariffs, as a temporary denominator to the federal reserve council within 31 January 2026, and filled the chair that remained unoccupied by the surprising resignation of Governor Adrian Kugler. Stephen Miran is the current chairman of the Council of Economic Advisors.
Also read: Trump refuses to deal with India in the middle of 50% of tariffs: “No, no…”
Donald Trump announced the appointment of Stephen Mirana at Fed On Truth Social, and in his first administration he appreciated his expertise and previous service and expressed the certainty that he would “do excellent work”.
“It is my great honor to announce that I chose Dr. Stephen Miran, the current chairman of the Economic Advisor Council to serve on a fair relaxed chair in the federal reserve council until January 31, 2026.
“Stephen has Ph.D. in economics at the University of Harvard and served with honors in my first administration. He has been with me since the beginning of my second term and his expertise in the world of the economy is unrivaled – he will do an excellent job. Congratulations to Stephen!”
Miran has been a strong supporter of Trump’s income tax and increase tariffs, which claims that the combined effect will strengthen economic growth enough to reduce budget deficits. He also downplayed that Trump’s tariffs could increase inflation, which is a key interest in Powell.
The selection of Stephen Mirana could increase the alarms regarding the potential political pressure on the federal reserve, the institutions traditionally protected from everyday political influence. Fed’s independence is widely considered to be essential for its ability to take hard measures against inflation, such as tourist interest rates, although these decisions may be politically unpopular.
Governors of Federal reserves vote on all decisions on the Central Bank’s interest rate as well as its financial regulatory policies.
Miran’s nomination, if approved, would add almost a certain vote to support lower interest rates. Kugler reflected Powell that the Fed should maintain rates unchanged and further evaluate the impact of tariffs on the economy before doing any movements.
Trump said he would appoint Fed officials who would reduce interest rates saying to reduce the borrowing costs of the huge pile of debt of the federal government of $ 36 trillion. Trump also wants lower rates to increase the sale of Moribund houses, which were partially detained by higher mortgages. Yet the Fed does not directly meet long -term interest rates on things like shopping houses and cars.
(With the entry from agencies)
(Tagstotranslate) Donald Trump
