Miran, the chair of the White House’s Council of Economic Advisers, has been a major defender of the president's income tax cuts and tariff hikes.

President Trump has selected White House Council of Economic Advisers Chair Stephen Miran to replace Adriana Kugler on the Federal Reserve Board of Governors. Yahoo Finance Senior Fed Reporter Jennifer Schonberger reports on what happens next in the nomination process and how Miran could impact the central bank.

President Trump announced Thursday he would nominate Stephen Miran, chair of the White House Council of Economic Advisers (CEA), to serve as a “temporary” member of the Federal Reserve Board of Governors.