Biden-appointed Federal Reserve Governor Adriana Kugler made headlines last week by resigning nearly five months before her term was set to expire.

That provided President Donald Trump with an opportunity to replace Kugler, and on Thursday he officially announced his selection. 

Trump makes the call

According to Breitbart, the president announced via a Truth Social post that it is his "great honor" to nominate Dr. Stephen Miran.

Trump noted that Miran, who is currently chairman of the Council of Economic Advisors, "has a Ph.D. in Economics from Harvard University, and served with distinction in my First Administration."

"He has been with me from the beginning of my Second Term, and his expertise in the World of Economics is unparalleled -- He will do an outstanding job," Trump predicted.

Breitbart cited an unnamed White House source who declared, "There’s no stronger America First candidate for the job than Miran."

The source went on to assert that Miran "brings the qualifications, credibility, and insight the Fed needs at this transitional time."

Miran seen as Trump tariff ally

Breitbart pointed out how Miran has voiced agreement with Federal Reserve Governor Christopher Waller, who argues that tariff-related inflation is transitory.

President Donald Trump said he had chosen Council of Economic Advisers Chairman Stephen Miran to serve as a Federal Reserve governor https://t.co/5Q4FIFuQtj

— Bloomberg (@business) August 7, 2025

He told Bloomberg that Waller has "done himself a big credit recently as well not succumbing to the tariff derangement syndrome that many others throughout the country, but particularly at the Fed, seem to have succumbed to."

Miran went on to praise the Federal Reserve governor for having "done a really good job having an independent voice."

Potential Powell replacement?

Bloomberg observed how Trump had acknowledged that Miran is only expected to serve until the conclusion of Kugler's term.

"In the meantime, we will continue to search for a permanent replacement," the president was quoted as saying in his Truth Social post.

What's more, the news service highlighted the possibility that Trump may opt to nominate Miran when current Federal Reserve Chair Jerome Powell's term finishes up in May.

"By selecting Miran, Trump has made a stop-gap appointment and given himself until January to make the main call," Evercore ISI analysts Marco Casiraghi and Gang Lyu were quoted as saying in a note to their clients.