Summary: Federal Reserve Governor Stephen Miran said he would be "very happy" to stay on at the central bank longer-term if asked, but emphasized that the decision is not within his control. He occupies a seat whose term has expired, making it the only Federal Reserve Board seat to which President Donald Trump could nominate former Fed Governor Kevin Warsh. Any change in the board's composition could be altered if Fed Chair Jerome Powell leaves the Fed board when his leadership term ends in mid-May; Powell has not yet disclosed his plans.
Miran's position and the current vacancy
Miran is serving on a seat with an expired term, a status that leaves the position open to presidential nomination despite his continued service. He said he would be "very happy" to remain on the board if asked, but he made clear that the decision rests with others. That seat is presently identified as the only one for which President Donald Trump could put forward Kevin Warsh as a nominee.
Potential role of the Fed chair's future
One factor that could change the nomination landscape is the possibility that Fed Chair Jerome Powell could resign from the Fed board when his leadership term concludes in mid-May. The chair has not made a public indication about whether he will step down from the board at that time. Miran noted that future developments will depend on a range of factors, including the existence of an open seat as well as decisions by the president and the Senate.
How Miran described the path ahead
Addressing these contingencies, Miran told Larry Kudlow on Fox Business: "What happens later this year will depend on a variety of things; it depends if there’s an open seat, it depends on the choice that the president makes, it depends on choices that the Senate makes."
Context and next steps
The immediate status is straightforward: Miran remains in his position while his term has expired. Beyond that, the sequence of events that will determine any extension or replacement remains subject to presidential nomination and Senate action, and could be further affected if Powell decides to leave the Fed board when his leadership term ends in mid-May.
This article presents the developments as described by Governor Miran and reported in his interview; it reflects the current public information and statements referenced above.