President Trump on Thursday said he would nominate Council of Economic Advisers head Stephen Miran to fill a vacant seat on the Federal Reserve Board of Governors. Why it matters: The pick comes as the White House continues its pressure campaign to get lower interest rates.

White House officials are preparing for President Donald Trump to nominate Council of Economic Advisers Chairman Stephen Miran to serve as a Federal Reserve governor, according to a person familiar with the search.

President Trump plans to nominate Stephen Miran to fill a vacant seat on the Federal Reserve's board of governors, but only for the next six months.