President Donald Trump announced the nomination of Stephen Miran, chair of the White House’s Council of Economic Advisers, to fill a vacancy on the Federal Reserve board of governors. Miran is a known advocate of Trump’s tariff policies and proposes reforms that could diminish the Federal Reserve’s independence, including granting the president power to fire Fed officials. Analysts at JPMorgan warn that Miran’s appointment signals a potential effort to amend the Federal Reserve Act, increasing political influence over monetary policy. Miran’s nomination aligns with Trump's call for lower interest rates amid economic concerns.