Stephen Miran, chairman of the Trump administration’s Council of Economic Advisers and an architect of its tariff policy, will be nominated to temporarily fill a vacant seat on the Federal Reserve’s board of governors, the US president announced Thursday on social media.
The nomination, now subject to Senate approval, came amid an ongoing tug-of-war between Trump and Powell over interest rates. Miran has previously proposed sweeping reforms to the central bank.
“He [Miran] could be a shadow over Powell,” said Alicia Garcia-Herrero, chief economist for the Asia-Pacific region at French investment bank Natixis, referring to the Trump administration official’s previous criticism of Powell over the Fed’s decision to maintain interest rates.
“He’s not only aiming to be nominated. He’s aiming to change the charter of the Fed. So that’s why this is a big issue,” she said.
