Trump gained a foothold earlier this month when Adriana Kugler resigned months before her term was set to expire in January 2026. Trump nominated economist Stephen Miran, current chair of the White House Council of Economic Advisers and a sharp critic of the Fed, to replace her.

President Donald Trump on Wednesday called on Federal Reserve Governor Lisa Cook to resign on the basis of allegations made by one of his political allies about mortgages she holds in Michigan and Georgia,

The surprise early resignation of former Fed Governor Adriana Kugler, another Biden pick, gives Trump an early opening to nominate someone to the central bank’s board and steer its monetary policy trajectory more toward his preferred path. He has named one of his economic aides, Stephen Miran, to fill the slot on an interim basis.