President Trump nominates CEA chair Stephen Miran to Federal Reserve board

Federal Reserve Board Appointment & Potential Policy Shifts - President Trump nominates Steven Myron to the Federal Reserve Board of Governors until January 31st, 2026 [1][2] - Myron's appointment could lead to lower rates and rate cuts, aligning with Trump's policies [2] - Myron is known for advocating policies that weaken the US dollar, boost US manufacturing, and reduce the trade deficit through tariffs [3] - Myron has proposed reforms at the Fed, including eight-year terms for governors and governors serving at the pleasure of the president [4] - Myron's appointment would potentially give Trump appointees a significant influence on the Fed board [4] Implications & Challenges - The Senate approval before the September 17th FOMC meeting is uncertain, limiting immediate impact [5] - Fed reform proposals, such as congressional approval of the Fed budget and taxing foreign ownership of US bonds, would require congressional approval and are potentially controversial [7][8] - There are concerns about Myron's loyalty to the administration potentially conflicting with the Fed's mandate of low inflation and low unemployment [9] - Even with a majority on the board, the district presidents could offset the president's influence [10]