Trump’s Surprise Fed Pick Buys Him Time on Chair Selection

President Donald Trump’s move to fill a slot at the Federal Reserve on a temporary basis offers him a chance to install an ally at the central bank, while giving him more time to weigh an even larger decision: who will be the next Fed Chair.

Trump said Thursday he will nominate Stephen Miran, chair of the White House Council of Economic Advisers, for a seat on the Fed’s Board of Governors that expires in January.

“In the meantime, we will continue to search for a permanent replacement,” Trump said.

That “permanent replacement” would receive a full, 14-year governor’s ...