Trump’s Economic Adviser Stephen Miran Gets Senate Approval for Federal Reserve Role
President Trump’s economic adviser, Stephen Miran, has received Senate approval to join the Federal Reserve Board.
The confirmation came later than a tight vote, with 48 senators in favor and 47 opposed.
Miran, currently chair of the Council of Economic Advisers, is expected to fill the seat vacated by Adriana Kugler, who resigned earlier this year. His term will run until January 2026.
The appointment gives the White House greater influence over the Federal Reserve. Miran becomes the first sitting White House official to serve in this capacity since the central bank’s creation.
Miran was first appointed by Trump in 2024 as chair of the Council of Economic Advisers and confirmed in March 2025. His name was formally put forward for the Fed role in August.
The move raises questions about the Federal Reserve’s independence, particularly as Trump has repeatedly called for rate cuts.
In a recent reality Social , Trump wrote: “Too Late. MUST CUT INTEREST RATES, NOW, AND largeGER THAN HE HAD IN MIND. HOUSING WILL SOAR!!! – President DJT.”
This could shape the outcome of the Fed’s policy meeting scheduled to begin today, with markets anticipating a positive result.
Optimism for a rate cut has grown. Tom Lee, chairman of BitMine Immersion Technologies (BMNR), the largest corporate ETH holder, ”
Filling the Gaps
While the Fed seat is filled, the Commodity Futures Trading Commission (CFTC) remains short-staffed later than several departures.
, leaving the agency without a replacement. Two other commissioners—Summer Mersinger and Christy Goldsmith Romero—have also exited, reducing the five-member leadership team to just two.
President Trump , a known pro-crypto advocate, to lead the CFTC. His appointment, however, still requires Senate approval.
If confirmed, Quintenz could accelerate developments favorable to digital assets, given his track record of supporting crypto innovation.
Trump’s Pro-Crypto Picks and Personal Stakes
Trump’s decision to back pro-crypto candidates for key positions could advance his own interests in the sector.
The president has ties to World Liberty Finance, a crypto firm he co-owns with his three sons.
A potential rate cut could boost demand for WLFI, the firm’s native token, which already has a . A surge in its value could significantly increase the Trump family’s wealth.
The broader crypto market may also rally, with altcoins positioned to benefit as lower rates push more capital into digital assets, fueling profit opportunities across the sector.
