Trump Appoints Stephen Miran to Federal Reserve

President Donald Trump has appointed Stephen Miran, known for his pro-crypto stance, to the Federal Reserve Board of Governors. 'He has been with me from the beginning of my Second Term, and his expertise in Economics is unparalleled — He will do an outstanding job,' Trump announced on Truth Social. Miran will fill an open seat until January 31, 2026, previously held by Adriana Kugler, who resigned to return to Georgetown University as a professor. Currently chairing the Council of Economic Advisers, Miran believes that cryptocurrency regulations require simplification. In November 2023, he remarked, 'I never cease to marvel at what fraction of 'innovation' in recent decades is simply due to circumventing regulations. Uber, crypto, Airbnb…' This comment followed the resignation of Binance CEO Changpeng Zhao, who pleaded guilty to violating anti-money laundering laws and incurred a $4 billion penalty. Miran also conveyed a mixed view on Binance's actions, stating, 'And while Binance did some evil things (helping finance Iran, Hamas), maybe we should actually streamline a lot of regulations.' In addition to his role at the Council, Miran has experience as a senior strategist at Hudson Bay and has worked at the U.S. Department of the Treasury and Fidelity Investments. He has also previously criticized Federal Reserve Chair Jerome Powell, amid public disagreements regarding interest rates.