The Globe and Mail reports in its Friday, Aug. 8, edition that President Donald Trump said Thursday he will nominate a top economic adviser to the Federal Reserve's board of governors for four months, temporarily filling a vacancy while continuing his search for a longer-term appointment.
An Associated Press dispatch to The Globe reports that Mr. Trump said he has named Stephen Miran, the chair of the White House's Council of Economic Advisers, to fill a seat vacated by governor Adriana Kugler, a Joe Biden appointee who is stepping down Friday. Mr. Miran, if okayed by the Senate, will serve until Jan. 31, 2026.
The appointment is Mr. Trump's first opportunity to exert more control over the Fed, one of the few remaining independent federal agencies. Mr. Trump has relentlessly criticized the current chair, Jerome Powell, for keeping short-term interest rates unchanged, calling him "a stubborn MORON" last week. Mr. Miran has been a major defender of Mr. Trump's income-tax cuts and tariff hikes, arguing that the combination will generate enough economic growth to reduce budget deficits. He also has played down the risk of Mr. Trump's tariffs generating higher inflation, a major source of concern for Mr. Powell.
© 2025 Canjex Publishing Ltd. All rights reserved.