Trump taps tariff architect Stephen Miran to replace Adriana Kugler on Fed Board

In a recent move, President Donald Trump has appointed Dr. Stephen Miran, who is often recognized as the mastermind behind Trump's economic strategies, including the tariffs, to temporarily fill a seat on the Federal Reserve Board until January 31, 2026. This position became available following the unexpected resignation of Governor Adriana Kugler. Currently, Stephen Miran serves as the Chairman of the Council of Economic Advisors. Also Read: Trump firmly rejects trade talks with India amid a 50% tariff standoff: ‘No, not until…’ On Truth Social, Trump announced Miran's appointment, highlighting his impressive credentials from Harvard and his previous contributions during Trump's first term. He expressed his belief that Miran will “do an outstanding job.” “It is my Great Honor to announce that I have chosen Dr. Stephen Miran, the current Chairman of the Council of Economic Advisors, to fill the recently vacated seat on the Federal Reserve Board until January 31, 2026. In the meantime, we will continue to look for a permanent replacement," Trump shared on Truth Social. "Stephen holds a Ph.D. in Economics from Harvard University and served with distinction in my First Administration. He has been with me since the start of my Second Term, and his expertise in the world of economics is unmatched — He will do an outstanding job. Congratulations, Stephen!” Miran has been a vocal advocate for Trump’s income tax cuts and tariff hikes, arguing that these measures will significantly enhance economic growth and help reduce budget deficits. He has also minimized concerns that Trump's tariffs might lead to inflation, which is a major worry for Powell. Miran's appointment could raise concerns about potential political influence over the Federal Reserve, an institution that has traditionally maintained a degree of separation from everyday politics. The Fed’s independence is generally seen as crucial for its ability to implement tough measures against inflation, like raising interest rates, even when such decisions might not be popular.

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