Biden appointee Adriana Kugler hasn’t said why she is leaving. Her departure comes at a precarious time for the central bank.

Trump nominated Miran on Thursday to complete Kugler’s term, which expires on Jan. 31. Trump has been demanding that Chair Jerome Powell and his Fed colleagues lower rates. He has said the Fed’s policy rate should be at 1%,

Still his nomination to fill the temporary open seat on the Federal Reserve was unexpected. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter The Biden appointee is returning to her academic role as a professor of public policy at Georgetown University’s McCourt School of Public Policy.

The position, which comes with a spot on the interest rate-setting Federal Open Market Committee, comes after Fed Gov. Adriana Kugler resigned early.

Stephen Miran, a close adviser to the president who is likely to become a governor at the central bank, has pushed for a weak dollar and lower interest rates.

Investors have appeared to shrug off Trump's tariff deadline, likely expecting the president to extend deadlines or strike deals.