Kugler is set to return to Georgetown University as a professor. Miran, who published a paper advocating for tariffs last year, has been nominated for a position. Trump's criticism of the Federal Reserve and Chairman Powell continues, along with pressure to remove Powell. Kugler has supported Powell and the FOMC majority in maintaining interest rates steady. The upcoming changes to Fed leadership and internal dissent about rate cuts are significant developments as the administration looks for a long-term nominee after Miran's term concludes in early 2026.
Miran's nomination comes at a time when Trump has been vocal in his criticism of the Federal Reserve and Chairman Jerome Powell, pressing for interest rate cuts to stimulate the economy.
Kugler consistently voted with Powell and the Federal Open Market Committee (FOMC) majority to keep rates steady throughout this year.
Trump has reportedly faced internal pressure to remove Powell, although such a move would likely face legal challenges.
At the FOMC's July meeting, Bowman and Waller dissented in favor of a rate cut, the first dual dissent on the board since 1993.
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