U.S. President Donald Trump has announced the nomination of Dr. Stephen Moran to the Federal Reserve Board, replacing Adriana Kugler.
Moran's Appointment
Dr. Stephen Moran, who served as Chairman of the Council of Economic Advisors, will serve on the Fed board until January 31, 2026, replacing Adriana Kugler who resigned. Trump noted that he is continuing to search for a permanent replacement for the current Fed chair.
Crypto Market Reaction
Moran's appointment coincided with a bullish sentiment in the Bitcoin and altcoin markets, indicating positive market conditions. This follows pressure from the Trump administration on the Fed for interest rate cuts.
Future of Federal Rates
Changes in the Fed leadership may lead to a cut in the benchmark interest rate, which is anticipated in September 2025. President Trump highlighted that a search for a new Fed chair is in progress.
Dr. Moran's appointment to the Federal Reserve could have significant implications for the economic landscape and financial markets in the future.
