The White House announced that President Donald Trump is preparing to nominate a new member of the Federal Reserve’s board of governors. According to Bloomberg, Trump is considering Stephen Miran, known for his pro-cryptocurrency views, for the critical position.
Trump previously appointed Miran to chair the Council of Economic Advisers, a key institution that directly advises the President on domestic and foreign economic policy. Miran’s new appointment is seen as a strong signal that a second Trump term will see cryptocurrency technologies more integrated into economic policies.
In his past statements, Miran has highlighted the potential of digital assets in the economy. In his assessment of the matter, he said:
“Crypto could have a big role in driving innovation and kickstarting another Trump administration economic boom.”
This move by Trump, which goes in a direction opposite to the previous Biden administration, known for its anti-cryptocurrency policies, is being closely watched by markets.
UPDATE:
Donald Trump confirmed that he chose Miran for the position at the FED:
“I am honored to announce that I have selected Dr. Stephen Miran, the current Chairman of the Council of Economic Advisers, to fill the vacant seat at the Federal Reserve until January 31, 2026. In the meantime, we will continue our search for a permanent replacement.”
*This is not investment advice.