Washington: US President Donald Trump has nominated the chairman of the Council of Economic Advisors, Stephen Miran, to serve on the Federal Reserve Board. Trump announced that Miran will fill the recently vacated seat on the board until January 31.

According to Anadolu Agency, Trump emphasized Miran's qualifications, highlighting his Ph.D. in Economics from Harvard University and his previous service during Trump's first administration. "He has been with me from the beginning of my second term, and his expertise in the world of economics is unparalleled," Trump stated, expressing confidence in Miran's potential contribution to the board.

The nomination follows the resignation of Adriana D. Kugler, a member of the US Federal Reserve Board, who stepped down last week. Miran has previously expressed views on the Federal Reserve's independence, noting in an article last year that "The Fed isn't as independent as it seems."

Trump mentioned that while Miran is set to serve temporarily, the search for a permanent replacement continues. "Stephen will do an outstanding job. Congratulations Stephen!" Trump concluded.