Trump’s Fed chair search: what it means for bitcoin

President Donald Trump named Stephen Miran to an open seat on the Fed Board of Governors. The Senate must confirm the appointment. The move comes as the administration lines up a choice for Fed chair to follow Jerome Powell. The chair search The White House is running interviews. Scott Bessent is out. Christopher Waller has gained traction with Trump’s advisers, according to people with knowledge. Kevin Warsh and Kevin Hassett remain under review. The Wall Street Journal reported that James Bullard is also under consideration. If confirmed to the board, Miran could become a contender as well. Waller’s signal Waller served on the board since 2020. Markets track his remarks on policy. At the last meeting, he dissented. He backed a rate cut instead of another hold. In a statement, he said tariff moves lift the price level once and do not drive ongoing inflation. He argued for a cut to protect jobs. Advisers cited that dissent while pitching him. Warsh has said tariffs do not raise inflation and that the Fed must counter price pressure if it appears. He was in the mix for chair during Trump’s first term. Powell was chosen after input from Treasury at that time. Hassett has backed Trump’s economic plan and defended the tariff approach. In April, he told ABC News he did not expect a large hit to consumers because trading partners would seek deals. Both Warsh and Hassett say the Fed should stay independent. Why this is significant for Bitcoin Rates: A cut can ease financial conditions and support risk assets, including bitcoin. A hold or hike can do the opposite. Dollar and yields: The chair’s guidance can move the dollar and Treasury yields. BTC/USD often reacts. Inflation path: Tariff policy and supply shifts can move inflation. The Fed’s response can change liquidity and flows into crypto. Communication: Clear guidance can reduce volatility. Mixed signals can raise it. What to watch next Timing of the Senate process for Miran. Any public signals on the chair pick. Market pricing for rate moves into year-end. Bitcoin’s correlation with the dollar and real yields around Fed events. Bottom line The Miran pick fills a seat. The chair pick sets the course. For Bitcoin, the path of rates, the dollar, and liquidity is the key story.

Het bericht Trump’s Fed chair search: what it means for bitcoin is geschreven door Immanuel Rodulfo en verscheen als eerst op Bitcoinmagazine.nl.