President Donald Trump announced on Thursday that he has selected Stephen Miran to join the Federal Reserve Board of Governors, the panel tasked with helping guide the nation's monetary policy.

Trump said in a Truth Social post that Miran will serve in the role until Jan. 31 of next year.

"In the meantime, we will continue to search for a permanent replacement," Trump wrote, adding that Miran has a Ph.D. in economics from Harvard.

Miran, a veteran of both Trump administrations, will ascend to the role following Senate approval.

The Federal Reserve Board of Governors, commonly known as the Fed Board, is composed of seven members, or governors, who are nominated by the president and confirmed by the Senate.

Last week, Federal Reserve Governor Adriana Kugler announced she would r

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