Trump picks top economic adviser to temporarily fill crucial US Fed seat
08.08.2025
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Federal Reserve Board of Governors member Adriana Kugler announced her resignation on Aug. 1, paving the way for a Trump nominee at the US central bank.
US President Donald Trump is shaking up the Fed again, announcing plans to nominate Stephen Miran, chair of the Council of Economic Advisors, to temporarily fill the seat left vacant by Adriana Kugler's resignation. Miran's tenure is set until Jan. 31, 2026, as the hunt for a permanent replacement continues.
Trump's move comes after considering heavy hitters like Kevin Hassett, a former Fed governor with a hefty Coinbase stake, and Kevin Warsh, a blockchain advocate, signaling a potential shift in the Fed's approach to digital assets and monetary policy.
The Fed's next board member will wield significant power over interest rates, a hot topic as Trump continues to publicly spar with Fed Chair Jerome Powell over the central bank's independence. This nomination, pending Senate approval, could mark a pivotal moment for US financial markets and the crypto space.
Fed rates to influence US markets, including digital assets?
With Trump's history of challenging the Fed's autonomy and a recent Supreme Court decision expanding presidential powers over independent agencies, the stakes are high. The new Fed member could influence everything from Bitcoin's volatility to traditional market stability.
- • Stephen Miran to temporarily replace Adriana Kugler at the Fed.
- • Trump considered Kevin Hassett and Kevin Warsh for the role.
- • New Fed member could impact crypto and traditional markets.
#FOMC#Political Impact on Cryptocurrency#Cryptocurrency market#Market sensitivity#USA
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