Pro-written Stephen Miran joins the Federal Reserve before key decision on rates

By Hannah Pérez

The Trump candidate, Stephen Look, friendly with cryptocurrencies, was confirmed by the Senate to assume a position at the Board of Governors of the Federal Reserve; just before the key decision on rates.

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Trump’s candidate Stephen Miran, pro-written, is confirmed by the US Senate.
Will assume a position at the Board of Governors of the Federal Reserve.
Not without controversies, since he has decided not to leave his post in the White House.
Miran’s confirmation comes just when the Fed meets to make decision on rates.

The United States Senate confirmed Stephen Miran on Monday night, an economist known for his favorable position to cryptocurrencies, as a new member of the Board of Governors of the Federal Reserve (Fed).

They look, appointed by President Donald Trump, was confirmed after a hard -fought vote, where 48 senators voted in favor and 47 opposed, the local news media reported.

The confirmation, which comes just before a crucial meeting of the Central Bank on monetary policy, marks a significant milestone in the influence of Trump’s administration on the Fed, at a time when a decision to cut the interest rates that could benefit risk assets such as cryptocurrencies.

Friendly with cryptocurrencies

Look was before senior strategist in Hudson Bayan investment firm that has participated in the negotiation of claims related to the bankruptcy of cryptocurrency exchange FTX In 2022, as reported The Block. In addition, he has previously advocated simpler regulations for the cryptocurrency sector, according to that newspaper.

His experience in the financial field and his pro-written perspective position him as a relevant figure in a context where the kind of asset that encompasses Bitcoin He has won prominence in financial markets.

A controversial confirmation

The confirmation of Miran, who is also president of the Council of Economic Advisors of the White House, was not exempt from controversy. Democratic legislators criticized His decision to make a license without salary enjoyment instead of giving up his position at the White Housewhich raises questions about the independence of the Fed, an institution that by law and tradition remains not partisan, according to the coverage of NBC News.

During his confirmation hearing in the Senate, Miran said that a lawyer assured him that maintaining both roles is legal and that he will perform his Fed functions independently, he added CNN.

Miran’s appointment fills the vacancy left by former governor Adriana Kugler, who resigned in August to return to Georgetown University. His mandate in the Fed will run until January 31, 2026, although it is not clear if Trump will name it for a complete period.

The vote of the Senate showed a clear division, with Republican senator Lisa Murkowski as the only one in her party to vote against Miran, while no Democrat supported her confirmation.

Just before the rate of rates

The arrival of Look at the Fed coincides with a critical moment, since the Federal Open Market Committee (FOMC) on Tuesday began a two -day meeting to make a decision on monetary policy.

A rate cut is expected on Wednesday, a measure that historically promoted risk assets such as cryptocurrencies due to a greater liquidity environment. Trump’s pressure on the Fed to reduce rates has been constant, with public criticism of President Jerome Powell, whom he accused of acting “too late”In a recent message in Social truth.

Miran’s confirmation also occurs in the midst of tensions within the Fed, including Trump’s attempt to fire Governor Lisa Cook for accusations of mortgage fraud, which she denies. A judge temporarily blocked this dismissal, and documents obtained by NBC News They suggest that accusations against Cook may not be founded.

With Look at the Board of Governors, the Fed faces a new chapter in its 111 -year history, with a member who maintains ties with the White House, something unprecedented. Its favorable position to cryptocurrencies and their role in decision making on interest rates could have significant implications for financial markets and the cryptocurrency sector in the coming months.

Article written with the help of AI, edited by Diariobitcoin

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