India, Aug. 8 -- As President Donald Trump nominated economist Stephen Miran to the Federal Reserve's board of governors on Thursday to fill a position to be vacated by departing Governor Adriana Kugler, it sparked confusion around Trump firing Powell. However, the confusion was unfounded, as Powell continues on his role as the Fed Chair.

Miran, who is serving as the chair of the White House's Council of Economic Advisers, will fill the seat until January 31, 2026. His nomination is still subject to Senate approval.

The rumors about Jerome Powell's firing surfaced amid the rough relationship that the President and the Federal Reserve chair share over their differences on lowering short-term interest rates. However, as the POTUS said to ...