“Will he serve the people or Donald Trump?” The choice of Stephen Miran to a strategic position of the Fed raises question

Ms. Furthermore, Kugler announced her resignation last week, when her mandate was to end a few months later.

In a message Thursday on his social social network. However, Donald Trump announced that Stephen Miran, who chairs the White House economic council, would occupy Ms. However, Kugler’s seat until the term of the mandate on January 31, 2026.

“In the meantime, we will continue to look for a permanent replacement,” he said.

The Council of Governors of the Federal Reserve includes seven members, including the President of the Central Bank, Jerome Powell. Consequently, All sit on the monetary policy committee (FOMC) which has twelve people voted on American interest rates.

Donald Trump. Moreover, who ignores the independence of the Central Bank, has “will he serve people donald been asking for his return to the power of the drastic decreases of these rates which guide the cost of credit since his return to power and have a strong influence on the financial markets.

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“Stephen holds a doctorate in economics from Harvard University. distinguished himself during my first mandate. He has accompanied me since the start of my second term and his expertise in the economy is unrivaled. He will do remarkable work,” said the president in his message.

Adriana Kugler became governor in 2023 on the proposal of the former Democrat-President Joe Biden.

Her departure. of which she did not reveal the reasons, allows Donald Trump to accelerate the change of governance at the top of the institution.

“Serve Trump?” – "will he serve people donald

Another appointment is eagerly awaited: that “will he serve people donald of the person who will replace Jerome Powell, whose mandate ends in the spring.

Donald Trump explained at the start of the week that he had four candidates for this position.

Governor Christopher Waller is a favorite, according to the Bloomberg agency on Thursday. He opposed the maintenance of rates at their current level at the Fed meeting at the end of July. pleading on the contrary for a drop, of fear of rapid degradation of the labor market.

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The employment figures for July. published two days later, showed that the labor market was going worse than expected, giving the comments of Mr. Waller of the tunes of prophecy.

Jerome Powell. who had become president of the Fed on the proposal of Donald Trump during his first mandate, is now the Bane “will he serve people donald of the American president.

The latter seemed to seek a way to dismiss him and asked him to resign. He also strongly suggested to other central bankers to overthrow him.

According to analysts. Donald Trump’s desire to weigh on monetary policy decisions will throw the suspicion of those they call, when the American economy seems to vacillate under the effect of his protectionist offensive.

“Stephen Miran is a faithful supporter of Trump and one of the main architects of chaotic commercial policy (…) who weighs on the portfolio of the Americans and our economy,” said Democratic Senator Elizabeth Warren in a statement.

The opponent warns that she will try to know. during the hearing in the Senate, “if he will serve the American people as an independent voice within the Fed or if he will be content to serve Donald Trump”.