Stephen Miran Advances Toward Full Senate Vote as Trump’s Fed Nominee

Key Developments:

The Senate Banking Committee approved President Trump’s nominee, Stephen Miran, to fill a temporary seat on the Federal Reserve Board. The nomination was advanced along party lines with a 13–11 vote.

Miran is set to replace Adriana Kugler, whose term ends in January 2026.

If confirmed, he’d serve on the Board during the September 16–17 Fed policy meeting, though timing may be tight.

Independence Concerns:

Miran plans to maintain his position as Chair of the White House Council of Economic Advisers (CEA) by taking unpaid leave rather than resigning, raising concerns among Democrats about politicizing the Fed.

Senator Elizabeth Warren flagged ethical discrepancies in Miran’s filings related to spousal income from a for-profit university, citing the need for full transparency and potential conflicts.

Crypto-Friendly Reputation:

Though Miran hasn’t made major public statements on digital assets since entering government, he previously indicated that “crypto has a big role potentially to play in innovation.”

Confirmation gives President Trump greater influence over monetary policy, especially as he seeks more aggressive rate cuts.

Miran’s retention of a White House role may challenge the Fed’s autonomy—signaling potential deviations from precedent.

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