Main to remember
- Stephen Miran, a Bitcoin defender and current CEA president, was appointed by Trump as a governor of the temporary Fed.
- Miran supports pro-Crypto innovation and criticizes excessive financial regulations.
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Stephen Miran, president of the Council of Economic Advisors (CEA), known for his pro-innovation and Bitcoin opinions, temporarily joins the Federal Reserve Council after President Donald Trump appointed him to replace Adriana Kugler, who should resign on Friday.
“It is my great honor to announce that I chose Dr. Stephen Miran, current president of the Council of Economic Councilors, to serve in the seat which has just been released at the Federal Reserve Board,” said Trump.
If he is confirmed by the Senate, which should not act on the appointment before meeting in September, Miran would serve until January 31, 2026, completing the rest of Kugler’s mandate.
Its first major obligation could be as a voting member of the FOMC meeting in September, where investors have been waiting for the first rate drop since December 2024.
Miran, who was appointed to lead Trump’s economic adviser’s council last December, supports the president’s economic policies, in particular by using prices to reduce trade deficits and stimulate growth.
The economist has minimized the risks of inflation linked to prices, distinguishing it from more prudent federal reserve officials.
“President Trump was right in 2018-2019 when he said that there was no inflation and no need for a higher interest rate. And finally, President Powell caught up with him. President Trump was right in 2021 when he said … Inflation was going to be out of control. We need higher interest rate now.
“And finally, President Powell has caught up with President Trump’s point of view. What we see now in real time is a rehearsal once again, where the president will eventually have been proven and the Fed will be, with a gap and probably too late, finally catch up with the president’s point of view,” he added.
On digital assets, Miran considers crypto as a potential catalyst for economic expansion, especially under the Trump administration.
“I think that crypto has a big role potentially to play in innovation and inaugurate another economic boom from the Trump administration,” he said.
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