Crypto investor under consideration to fill crucial US Fed seat: Report

Federal Reserve Board of Governors member Adriana Kugler announced her resignation on Aug. 1, paving the way for a Trump nominee at the US central bank.

US President Donald Trump is reportedly considering four people to replace Federal Reserve Board of Governors member Adriana Kugler after her resignation becomes effective on Friday.

According to a Thursday Reuters report, Trump was weighing economic adviser Kevin Hassett, former Fed governor Kevin Warsh and two other people to replace Kugler by the end of the week. Whomever Trump nominates and is confirmed by the US Senate would have significant influence over the country’s monetary policy, including federal interest rates. 

Hassett, also director of the National Economic Council under Trump, disclosed holding a stake in Coinbase Global worth between $1 million and $5 million as of June. Warsh, who served as a Fed governor from 2006 to 2011, reportedly said that blockchain technology could benefit the US central bank with its payment systems.

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