Miran, who is currently sitting in the White House Economic House of Economic Chamber, called for a long -term reform of federal reserve governance.
US President Donald Trump said he will nominate Stephen Miran, a senior economic advisor to the Governor’s Council of the US Federal Reserve, for a period of four months, temporarily filling the vacant while continuing to search for a long -term date.
The President announced his decision on Thursday.
Miran, Chairman of the Economic House of Economists at the White House, will fill a seat by the ruler Adriana Kogler, who is appointed by Biden, who rises on Friday. Kugler returns to its tenant professor at Georgetown University.
The term ends January 31, 2026, and is subject to approval from the Senate. Trump said the White House continues to search for someone to fill the 14 -year -old Federal Reserve seat, which opens on February 1.
Miran, who held the position of economic advisor in the Treasury during the first Trump administration, called for a long -term reform of the federal reserve rule, which will include the failure of the conditions of the members of the Board of Directors, put it under clear control of the president, and to end the “renewed door” between the executive branch and the twelve technical reserve bank.
The appointment is the first opportunity for Trump to exercise more control of the Federal Reserve, and is one of the remaining few federal agencies that are still independent. Trump has criticized the current chair, Jerome Powell, to keep it Short -term interest rates without change A major point of dispute between the White House and the Central Bank.
Miran was a major defender of Trump’s income discounts and raising the customs tariff, on the pretext that the group will generate sufficient economic growth to reduce the budget deficit. It has also reduced the risk of Trump’s tariff to generate a higher inflation, which is a major source of anxiety for the height.
Trump pressed in vain to federal policy makers – including Powell, the six members of the Board of Directors, and the heads of the 12 Federal Reserve Bank – to reduce rates. The appointment of Miran to the central bank, even in the role of the deputy elements, gives the president a more direct path to pursuing his desire for an easier monetary policy.
“Trump loyal”
It is not clear how long Miran will get at the Federal Reserve to try to spread his ideas, or even vote on interest rates.
All candidates in the Federal Reserve requires confirmation of the Senate, a process that includes a hearing before the Senate Banking Committee, and a vote from the committee that enhances the nomination and a series of land votes before the full Senate, where the Democrats slowed the pace of approval of the appointment of Trump.
“Stephen Miran is from Trump’s loyalists and a senior architect of the president’s chaotic policy that harmed the governor of the Americans,” said Elizabeth Warren, the Senate of the Senate Banking Committee. “I will take difficult questions for him about whether he will serve the American people or just the service of Donald Trump.”
Senate on the summer vacation until September 2.
There are only four policy mode meetings, including one contract from September 16 to 17, before the end of what will be Miran.
Federal Policy makers kept the policy rate in its current range of 4.25 per cent to 4.5 percent in their meeting in July, where Powell pointed out a somewhat increase in inflation and anxiety that Trump’s tariff could keep it as reasons for preserving policy.
Many central bankers this month raised concerns about the weakness of the labor market, and at least the couple across his confidence in renewing that the customs tariff may not raise inflation as much as the previous thought. These opinions were the frequency of the arguments made by two conservatives who the Federal Reserve Bank who opposed the decision to leave the policy last month.
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