Trump to Nominate Stephen Miran to Federal Reserve Board
WASHINGTON — President Trump today indicated he will nominate Stephen Miran, who currently serves as Chair of the President’s Council of Economic Advisors, to the Federal Reserve Board of Governors. Miran will fill the vacancy left by Adriana Kugler for four months while the administration considers who to appoint to the seat for a full term.
Miran, a Trump loyalist and constant defender of the president’s economic policies, has played down the risks posed by Trump’s tariffs and has been a vocal critic of the Fed’s actions over recent years, including the effort to protect the economy from the financial impacts posed by climate change. In response, Bartlett Naylor, financial policy advocate with Public Citizen’s Congress Watch, issued the following statement:
“Stephen Miran’s myopic vision of limited Federal Reserve independence and diminished supervisory authority make him the wrong choice for the Federal Reserve. At a time of heightened financial and economic risks—including from Miran’s own isolationist economic agenda—diminishing the Federal Reserve’s capacity to promote financial stability portends crisis.
“On climate-related financial risk—the largest and best telegraphed risk to the financial system today—Miran thinks the Federal Reserve plays politics by acknowledging that the threats climate change poses to the banks it supervises and the financial system writ-large are real. Miran’s close involvement with President Trump’s reckless and illogical use of across-the-board tariffs should be reason enough to keep him far away from positions of authority on issues of economic and financial stability.
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