On August 8, 2025, U.S. President Donald Trump nominated Stephen Miran to fill an interim seat on the Federal Reserve Board following Adrian Kugler's resignation.
Miran's Nomination to the Fed
Trump has chosen Stephen Miran, currently the Chairman of the Council of Economic Advisers. The President praised Miran's economic expertise, seeing him as a valuable addition to this important role. This nomination could influence Federal Reserve policy and indirectly affect cryptocurrency markets.
Bitcoin Market Stability Amid Fed Changes
Currently, Bitcoin (BTC) trades at $116,949.95, with a market cap of $2.33 trillion. Over the last 24 hours, the price has increased by 1.84%, reflecting a monthly gain of 7.53%. Bitcoin's market dominance stands at 60.01%. Temporary appointments to the Fed typically lead to short-term market volatility without significant long-term impacts unless in conjunction with major rate decisions.
Impact on Economic Policy
Miran's nomination may usher in a more protectionist economic agenda, with discussions around addressing trade deficits and reassessing the dollar gaining momentum. This could have implications on fiscal policies and the broader economy. It is crucial to monitor market responses to potential shifts in Fed policy.
Stephen Miran's appointment to the Federal Reserve may represent a significant step in altering U.S. economic policy. His economic stance could influence financial markets and cryptocurrencies particularly.
