Core Points - President Trump appointed Stephen Miran as a member of the Federal Reserve Board, filling a vacancy left by former member Adriana Kugler, with a term ending on January 31, 2026 [1] - Miran has a strong academic background with a PhD in economics from Harvard and has experience in both the private sector and federal government, making him a key figure in shaping economic policy [1] - Trump's administration is actively seeking to influence the Federal Reserve's decision-making, particularly in light of upcoming midterm elections [1][5] Group 1 - The Federal Reserve Board consists of 7 members who directly influence the Federal Open Market Committee (FOMC) decisions, which include evaluating economic conditions to adjust interest rates [1] - Miran has previously criticized the large-scale fiscal stimulus policies favored by Fed Chair Jerome Powell, indicating potential shifts in monetary policy direction [2] - Trump has been pressuring Powell to resign due to dissatisfaction with the Fed's interest rate policies, aiming to mitigate the negative impacts of tariffs and government debt [5] Group 2 - Powell's term ends in May 2026, and he has faced significant pressure from Trump but remains committed to his position [6] - Trump is interviewing three candidates for potential replacements for Powell, all of whom align with his ideological views, suggesting a more dovish approach to monetary policy in the future [7] - The upcoming FOMC meetings on September 16, October 28, and December 9 will be crucial in determining the future monetary policy stance, which may impact global capital confidence [7]