US President Donald Trump has chosen his chief economic adviser Stephen Moore to serve on the US Federal Reserve Board (the central bank) for only four months to complete the term of board member Adriana Kugler, who announced her resignation last Friday, while the search continues for a candidate for the new term. Trump said he selected Stephen Moore, chairman of the White House Council of Economic Advisers, to fill the seat of Adriana Kugler, who was appointed by former President Joe Biden. If the US Senate confirms Moore’s appointment, he will serve on the Federal Reserve Board until January 31. This appointment represents Trump’s first opportunity to exert greater control over the Federal Reserve Board, one of the few remaining independent federal agencies. Trump has strongly criticized the current chairman, Jerome Powell, for keeping short-term interest rates unchanged.

Moore has been a prominent advocate for Trump’s income tax cuts and tariff increases, arguing that the combination would generate enough economic growth to reduce the budget deficit. He also downplayed the risk that Trump’s tariffs would cause inflation, a major concern for Powell.