Trump nominated Stephen Miran, the chair of the Council of Economic Advisors and a Harvard Ph.D, on Aug. 7 to serve as temporary Fed governor, filling the opening left by Adriana Kugler’s unexpected resignation. Kugler, a labor economist, announced that her surprise resignation would take effect Aug. 8.

Miran has emerged as a vocal defender of Trump's economic agenda, particularly the 2025 tax cuts and the broad tariff regime.

Miran has been a major defender of Trump’s income tax cuts and tariff hikes. He also has played down the risk of Trump’s tariffs generating higher inflation.