Don’t get overly excited by the news of Trump getting a replacement for a vacancy on the Federal Reserve Board. A long way to go to clean out this piece of the swamp.
President Trump on Thursday afternoon announced Dr. Stephen Miran will fill the vacancy on the Federal Reserve Board until January 31, 2026.
Last week Biden-appointed Federal Reserve Governor Adriana Kugler announced she will be resigning from her post Friday, August 8.
Adriana Kugler’s resignation left President Trump a vacancy to fill.
“Dr. Kugler, who has served as a governor since September 13, 2023, submitted her letter of resignation to President Trump and will return to Georgetown University as a professor this fall,” the announcement said last week.
On Thursday, President Trump announced Dr. Stephen Miran, current Chairman of the Council of Economic Advisors, will fill the vacancy.
“It is my Great Honor to announce that I have chosen Dr. Stephen Miran, current Chairman of the Council of Economic Advisors, to serve in the just vacated seat on the Federal Reserve Board until January 31, 2026. In the meantime, we will continue to search for a permanent replacement. Stephen has a Ph.D. in Economics from Harvard University, and served with distinction in my First Administration. He has been with me from the beginning of my Second Term, and his expertise in the World of Economics is unparalleled — He will do an outstanding job. Congratulations Stephen!” President Trump said on Truth Social on Thursday.
Well, one down but a lot more to go. Compare this candidate to this member who is a total joke.
Mary Daly, the Federal Reserve Bank of San Francisco chief who failed to see major red flags at failed Silicon Valley Bank, was inspired by Marxian economist Gene Wagner, who she said “has mentored me my whole life” Talk about moral hazards: The lesbian activist protege of Biden Treasury Secretary Janet Yellen was more concerned with regulating culture than regulating banks. Also a BLM activist.
Federal Reserve Bank of San Fran Prez Mary Daly turned a blind eye to Silicon Valley Bank. President and chief executive officer of the Federal Reserve Bank of San Francisco since October 1, 2018. She serves on the Federal Reserve’s rate-setting Federal Open Market Committee on a rotating basis.
Mary Daly’s career trajectory: drops out of High School, works at a donut shop, gets GED, goes to college, becomes enamored with leftist prof teaching Marxian economics, becomes San Fran Federal labor researcher, ingratiates herself with Janet Yellen, who keeps promoting her first openly gay Fed/ prez/CEO. Her background is in the study of economic equality.
Conversation with Dr Mary Daly, Chief Executive Officer of the Federal Reserve Bank of San Francisco
Now that we have an idea of who they might be, back to the story.
The Federal Reserve decision, CNBC’s Steve Liesman highlights a wild card in the process: the high number of freshmen FOMC voters. The Federal Open Market Committee (FOMC) consists of twelve members–the seven members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and four of the remaining eleven Reserve Bank presidents. This video is from two years ago.
And we wonder what is wrong with the Federal Reserve?
BUNKERVILLE | God, Guns and Guts Comrades! 