Trump nominates Stephen Miran for Fed vacancy

In Short:
– President Trump nominates Stephen Miran to the Federal Reserve’s board of governors until January.
– Miran replaces Adriana Kugler, who announced her departure from the Fed.

President Trump will nominate Stephen Miran, the head of the White House Council of Economic Advisers, to a short-term position on the Federal Reserve’s board of governors.

According to The Wall Street Journal, Miran will serve until the term concludes in January.

The president noted that the search for a permanent replacement will continue during this period. He had discussed Miran’s nomination with allies as recently as Monday, having considered several candidates, including former economic adviser Judy Shelton.

Miran replaces Fed governor Adriana Kugler, who unexpectedly announced her departure from the central bank, effective this Friday.