Trump just installed a pro-crypto loyalist on the Fed-this could shift the rate-setting narrative.
On August 7, 2025, President Trump announced he'd nominate economist Stephen Miran to occupy the vacant Fed Board seat left by Adriana Kugler, who resigns this Friday to return to academia. Miran, a Trump confidant known for challenging Fed independence, will serve only until Jan 31, 2026 unless confirmed by the Senate.
Miran brings a pro-crypto credibility and dovish tilt into the Fed's inner circle-without overhauling long-term leadership or policy trajectory. He could quietly amplify the case for rate cuts in time for crypto and equity moves tied to easing monetary policy.
Wall Street responded cautiously. Analysts flagged Miran as a "seat-warmer" unlikely to radically change policy-but his presence increases pressure for a dovish pivot, especially with rate cuts increasingly expected in coming meetings. The dollar slipped, and pro-risk assets including crypto tickers saw early gains.
Track the Senate confirmation timeline-hearing expected post-labor-day recess. Watch for how he aligns or dissents in upcoming FOMC decisions. His short tenure might set the stage for broader Fed reform post-Powell.
