Trump Names Miran To Fed Board, Easing Dollar Pressure

President Donald Trump has nominated Stephen Miran, chairman of the White House Council of Economic Advisers, to temporarily fill a vacancy on the Federal Reserve Board of Governors until January 31, 2026. Miran, a longtime ally and critic of current Fed Chair Jerome Powell, is noted for his crypto-friendly stance and skepticism about the Fed's independence, advocating for stronger presidential control and streamlined regulations. His nomination has been seen as a tilt toward a more dovish monetary policy, potentially supporting further Federal Reserve rate cuts and bolstering gold prices amid market uncertainty. Miran has also defended Trump's tariff policies, arguing that tariff-related inflation is likely a one-time price adjustment rather than sustained inflation, a view shared by Fed Governor Christopher Waller. The market reacted with modest dollar depreciation and gains in gold futures following the announcement. Miran's nomination requires Senate confirmation and comes amid ongoing tensions between the White House and the Federal Reserve over interest rate policies.