President Donald Trump has made a strategic move by appointing economist Stephen Miran to the Federal Reserve Board of Governors.
Miran, an accomplished economist, holds a Bachelor of Arts in economics, philosophy, and mathematics from Boston University, graduating magna cum laude in 2005, and a PhD in Economics from Harvard University, completed in 2010. His appointment comes as he steps into the role vacated by Adriana Kugler, who resigned last Friday.
As reported by One America News, President Trump expressed his enthusiasm for Miran's appointment, stating, "It is my Great Honor to announce that I have chosen Dr. Stephen Miran, current Chairman of the Council of Economic Advisors, to serve in the just vacated seat on the Federal Reserve Board until January 31, 2026."
Trump further highlighted Miran's credentials, noting his distinguished service during Trump's first administration and his continued involvement in the second term. "His expertise in the World of Economics is unparalleled He will do an outstanding job. Congratulations Stephen!" Trump added.
This appointment occurs amidst ongoing tensions between President Trump and Federal Reserve Chairman Jerome Powell. Trump has been vocal in his criticism of Powell for not reducing interest rates this year. Powell, whose term concludes in May, has resisted calls to step down, citing the potential repercussions of Trump's tariffs as a reason for his cautious stance.
However, some economists, such as Torsten Slk, argue that these tariffs are generating significant revenue for the U.S. economy. Slk remarked in June, "...Maybe the administration has outsmarted all of us," suggesting a more calculated approach by the GOP administration than initially perceived.
While it remains to be seen how Miran's presence on the board will influence its policies, his appointment ensures that President Trump has a trusted ally with direct access to the Federal Reserve's decision-making processes.
This development comes as Trump urges the Federal Reserve Board, currently balanced with three Republicans and three Democrats under Powell's leadership, to exert greater control over economic policy.
The appointment of Miran to the Federal Reserve Board marks a significant step in President Trump's ongoing efforts to shape economic policy in alignment with his administration's objectives.
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