US President Donald Trump on Thursday announced the selection of Stephen Miran to serve on the Fed Board of Governors, replacing Adriana Kugler. Miran is currently serving as chair of the Council of Economic Advisors.

Stating that Miran’s “expertise in the world of economics is unparalleled”, Trump said he “has been with me from the beginning of my Second Term”. 

“He will do an outstanding job,” said the US president.

Miran likely is set to serve in the position only through January 2026, when Kugler’s term ends.