President Trump plans to nominate Steven Millan, chairman of the Economic Advisers' Committee, to fill the vacant seat on the Federal Reserve Board

Federal Reserve Board member Adriana Kugler announced her resignation on August 1, prompting President Donald Trump to appoint a successor.
He plans to nominate Stephen Miran, chairman of the White House Council of Economic Advisers, as the new leader.
On the 7th (local time), President Trump posted on social media, "
Millan will assume the role of interim Fed governor starting on January 8, when Kugler's resignation takes effect, and will serve until January 31, 2026. The White House said that during this period, he will not serve as a permanent governor.
The search for a new leader will continue. President Trump spoke to Kevin Hassett, a member of the Council of Economic Advisers, about the appointment.
Hassett and former Fed Governor Kevin Wash
The company has reportedly considered two candidates, including Warsh.
The Fed governor position is an important position that exerts a great influence on U.S. monetary policy, including federal interest rates.
The reason for Kugler's resignation has not been made public, as he is subject to approval procedures. Hassett served as the National Economic Council (NEC) chairman in the Trump administration, and as of June, he had a net income of between 1 million and 50 million.
Wash served as a member of the Federal Reserve Board from 2006 to 2011 and is a former blockchain entrepreneur.
He has previously said that cryptocurrency technology could help improve the US central bank's payment system.