Trump said he has signed the relevant documents appointing Milan to join the Federal Reserve.

On September 16th local time, U.S. President Trump stated that he had signed the relevant documents for Stephen Moore to join the Federal Reserve, and emphasized that "the Federal Reserve needs to remain independent". The Federal Reserve released a statement on August 1st, stating that the Fed board member Kuggel would resign from his position as Fed board member and officially step down on August 8th. On the 7th, Trump announced that he had selected Stephen Moore, chairman of the White House Economic Advisory Committee, to fill the vacant position on the Federal Reserve Board, with a term until January 31, 2026.