By Saleha Mohsin and Amara Omeokwe
President Donald Trump said he had chosen Council of Economic Advisers Chairman Stephen Miran to serve as a Federal Reserve governor.
“He has been with me from the beginning of my Second Term, and his expertise in the World of Economics is unparalleled — He will do an outstanding job,” Trump said Thursday in a social media post.
The president said that Miran, who will need to be confirmed by the US Senate, would only serve the expiring term of Fed Governor Adriana Kugler, which ends in January. “In the meantime, we will continue to search for a permanent replacement,” Trump said.
The Bloomberg Dollar Spot Index erased its daily gains on the news of Miran’s nomination. The Federal Reserve declined to comment.
Miran, who holds a Ph.D. in economics from Harvard University, has echoed Trump’s call for lower interest rates. Miran has established a reputation for delivering his views in a more measured tone than many other Trump advisers. Nonetheless he has been a sharp Fed critic and proposed changes to the central bank that some would view as unorthodox.
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