Stephen Miran has been appointed by US President Donald Trump to the Federal Reserve Board following Adriana Kugler’s resignation. An advocate of cryptocurrency, Miran supports easing regulatory measures and lowering interest rates.
Miran's Appointment to the Federal Reserve
President Trump announced the appointment of Stephen Miran to the recently vacated seat on the Federal Reserve Board. Miran, the current Chairman of the Council of Economic Advisors, will hold this position until January 31, 2026, while the administration continues searching for a permanent board member and a candidate to succeed Jerome Powell as Fed Chair, whose term expires in May 2026.
Market Reactions to the Appointment
Miran’s appointment has already affected market sentiment. Following the announcement, Bitcoin briefly climbed above $117,600, reflecting market participants' positive response to potential changes in monetary policy. Greg Magadini, director of derivatives at Amberdata, noted that expectations of a dovish approach contribute to market optimism.
Future of the Fed and Rate Policies
According to CME data, there is nearly a 90% probability of a rate cut at the upcoming Fed meeting scheduled for September 16-17, 2025. In academic papers, Miran has advocated for more direct presidential control over the Fed to improve accountability and reduce excessive oversight.
Stephen Miran's appointment to the Fed raises questions about the future of monetary policy and how his approach may impact the US economy. Market participants will be closely watching the upcoming Fed meetings in anticipation of potential changes in interest rates.
