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Trump Made His MAGA Fed Pick. His Next Choice Will Be Far More Consequential
UNITED STATES, AUG 8 – Trump nominated Stephen Miran to support interest rate cuts and extend the timeline for choosing a permanent Federal Reserve chair, with JPMorgan expecting a rate cut in September.
- In a Thursday statement, Trump said he will nominate Stephen Miran, chair of the Council of Economic Advisors, to the vacant Fed seat vacated by Adriana Kugler, pending Senate confirmation.
- Having criticized Jerome Powell's reluctance to lower rates, Trump sought a more dovish vote, securing a stop-gap Fed appointment until January, according to analysts.
- Markets see the next FOMC vote on Sept. 16 and 17 occurring before Miran's confirmation, with the Fed's benchmark interest rate between 4.25% and 4.5%.
- Following the nomination, experts noted potential shifts in policy timing and governance leverage, with Derek Tang saying Miran's appointment could influence near-term rate decisions and debates on the Fed's role in innovation.
- Miran could vote at the next FOMC meeting where markets expect the first rate cut since December 2024, with his term lasting until January 31, 2026.
23 Articles
23 Articles
It was a temporary appointment, but the choice of one of yours, Stephen Miran, to enter the Fed council for a few months can have lasting effects.
Trump made his MAGA Fed pick. His next choice will be far more consequential | News Channel 3-12
By Bryan Mena, CNN Washington (CNN) — President Donald Trump recently nominated one of his economic advisers to the Federal Reserve’s top ranks, but his next choice will be far more consequential. Plans for picking the next Fed chair are already taking shape. Trump on Thursday nominated White House economist Stephen Miran to temporarily fill a vacant seat on the Fed’s Board of Governors, though he still needs to be confirmed by the Senate. Meanw…
Trump made his MAGA Fed pick. His next choice will be far more consequential
By Bryan Mena, CNN Washington (CNN) — President Donald Trump recently nominated one of his economic advisers to the Federal Reserve’s top ranks, but his next choice will be far more consequential. Plans for picking the next Fed chair are already taking shape. Trump on Thursday nominated White House economist Stephen Miran to temporarily fill a vacant seat on the Fed’s Board of Governors, though he still needs to be confirmed by the Senate. Meanw…
Trump Moves to Shape the Fed: What It Means and Why It Matters
Donald Trump is taking real steps to influence the U.S. Federal Reserve, the central bank that sets interest rates and plays a key role in America’s economy. He nominated his own top economic adviser, Stephen Miran, to fill a vacant seat on the board. This move, confirmed by White House and official Fed sources, comes […]
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