Trump to nominate ‘loyalist’ Stephen Miran to the Federal Reserve board
Al Jazeera3 days
Trump Nominates Miran to Fed Board in Temporary Role
Above: Stephen Miran outside the White House in Washington, D.C., U.S., on June 17, 2025. Image copyright: Aaron Schwartz/Bloomberg/Getty Images
The Spin
Republican narrative
Miran brings needed expertise and fresh perspective to a Federal Reserve that has been too slow to respond to economic reality. His exemplary economics background (having obtained a Ph.D. from Harvard), and his considerable Treasury experience make him uniquely qualified to help guide monetary policy during this critical period.
Democratic narrative
Trump is threatening to appoint to the Federal Reserve a political lackey whose chaotic tariff policy has already wreaked havoc with the U.S. economy. Miran’s radical reforms, as well as his dogmatic loyalty to Trump, would undermine the central bank’s independence and its ability to make difficult but necessary decisions free from political pressure.