President Trump said on Tuesday that he may nominate Stephen Miran for a long-term seat on the Federal Reserve Board of Governors and expects to hold a majority at the central bank soon in order to push rate lower.
The remarks were made during a cabinet meeting, where Trump was asked about a variety of topics.
The remarks followed his social media post of a letter to Fed Governor Lisa Cook, stating he was removing her over an alleged mortgage fraud incident. Cook has said she will not resign, and her lawyer has signaled a lawsuit over the matter.
When asked about a replacement for Cook, Trump stated, “We have some very good people for that position, and I think we have some very good people we’re down to.”
Trump has been pushing for more control of Federal Reserve policy, hurling social media insults at Fed Chair Jerome Powell for not cutting rates during his term.
Stephen Miran was tapped earlier this month to replace Governor Adriana Kugler, who resigned early from her term, which was set to expire on Jan. 31, 2026.