President Donald Trump announced Thursday that he will nominate Stephen Miran, current Chair of the Council of Economic Advisers, to temporarily fill a vacant seat on the Federal Reserve Board. The move follows the sudden resignation of Fed Governor Adriana Kugler, who is returning to her academic post at Georgetown University.

Miran’s nomination—subject to Senate approval—would allow him to serve until the term expires on January 31, 2026. His appointment comes as the White House continues to search for a long-term nominee for the role, as well as a potential successor to Federal Reserve Chair Jerome Powell, whose term concludes on May 15, 2026.

A vocal critic of the Fed’s current structure, Miran has previously advocated for sweeping reforms, including greater presidential oversight, shortened terms for Fed board members, and the nationalization of the 12 regional Federal Reserve Banks. He outlined these proposals in a 2023 paper co-authored for the Manhattan Institute.

Despite the limited duration of his potential tenure, Miran’s interim role could still grant Trump increased influence over the Fed’s direction, particularly on monetary policy. The president has repeatedly pressured the central bank to lower interest rates—efforts that have so far been resisted by Powell and other members of the Fed’s governing body.

“Near term, an interim Fed Governor Miran gives Trump the best of both worlds: immediate policy influence without surrendering Fed Chair optionality and leverage,” said Derek Tang, an analyst at LHMeyer. “Disruption from within is a bonus.”

It remains uncertain whether Miran would have sufficient time to vote on key policy matters, or to advance his more ambitious reforms, many of which would require congressional approval. Nonetheless, his nomination signals Trump’s ongoing efforts to reshape the leadership and long-standing independence of the world’s most powerful central bank.