U.S. President Donald Trump announced Thursday his intent to nominate Stephen Miran, current Chair of the Council of Economic Advisers, to the Federal Reserve Board of Governors. Miran is set to replace Adriana Kugler, who will step down on Friday, and would serve a term lasting until January 31, 2026. He previously served as an economic policy adviser at the Treasury Department under Secretary Steven Mnuchin during Trump’s first term. The nomination requires Senate confirmation.