President Donald Trump looks to appoint an ally to the Federal Reserve as he presses the central bank to cut interest rates aggressively. Trump said he was appointing Stephen Miran, the current chair of the White House Council of Economic Advisers,

Miran has been a major defender of Trump’s income tax cuts and tariff hikes. He also has played down the risk of Trump’s tariffs generating higher inflation.

Adriana Kugler will resign from her role as a Federal Reserve governor — opening up a vacancy on the board as President Trump pressures the Fed to slash interest rates.