Trump's New Ally For Lower Rates: Stephen Miran Set For Fed Board Nomination

Benzinga

Trump said Thursday he will nominate Council of Economic Advisers Chair Stephen Miran to fill a vacant Federal Reserve Board seat, according to Benzinga. If confirmed, Miran would serve on the Federal Reserve Board through January 2026, giving him limited time to influence U.S. monetary policy. Miran built a career in investment firms before drawing Trump's attention with pro-tariff policy papers, including his 41-page "Mar-a-Lago Accord." His recent comments point to a dovish stance, citing cooling inflation and advocating for updated models. CME FedWatch data show a 93% chance of a rate cut in September and a 63% chance of a follow-up cut in October. Following the nomination, the dollar dipped 0.3% and gold surged to $3,400. The S&P 500 closed slightly lower, while the Nasdaq rose 0.3%.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02President Trump said Thursday he would nominate Council of Economic Advisors Chair Stephen Myron

00:06to fill a vacant Federal Reserve Board seat, according to Benzinga. If confirmed,

00:10Myron would serve on the Federal Reserve Board through January 2026,

00:14giving him limited time to influence U.S. monetary policy.

00:17Myron built a career in investment firms before drawing Trump's attention

00:20with pro-tariff policy papers, including his 41-page Mar-a-Lago Accord.

00:24His recent comments point to a dovish stance,

00:26citing cooling inflation and advocating for updated models.

00:30CME FedWatch data shows a 93% chance of a rate cut in September

00:33and a 63% chance of a follow-up cut in October.

00:37Following the nomination, the dollar dipped 0.3% and gold surged to $3,400.

00:41The S&P 500 closed slightly lower, and the Nasdaq rose 0.3%.

00:45For all things money, visit Benzinga.com.

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