Analyst: Stephen Miran's Joining the Fed Will Put More Pressure on Powell to Cut Rates

BlockBeats News, August 8th - Jay Hatfield, CEO of New York Infrastructure Capital Management, pointed out that Stephen Miran's appointment as a Federal Reserve temporary board member is somewhat unusual. This is because he previously served as the Chairman of the President's Council of Economic Advisers and has made some controversial and even questionable statements, such as advocating for mandatory purchases of government bonds. However, Hatfield believes that this will not affect Miran's duties as a Federal Reserve board member. This position is not so ideal, and serving as a short-term board member is not a particularly attractive opportunity. This decision is quite practical because it is difficult to pull someone from the private sector for such a short term. The public's attention is still focused on the nomination of the Federal Reserve Chairman, but Stephen Miran's addition will put more pressure on Powell to cut interest rates. (Golden Ten)