Following the resignation of Federal Reserve Board member Adriana Kugler on August 1, President Donald Trump is reportedly considering four candidates to fill the position. Among them are economic adviser Kevin Hassett and former Fed governor Kevin Warsh. Hassett, disclosing a stake in Coinbase Global valued between $1 million and $5 million, has a close association with Trump, having served as director of the National Economic Council. Warsh, who was a Fed governor from 2006 to 2011, has expressed that blockchain technology could enhance the Fed's payment systems. He highlighted the importance of retaining the Fed's monopoly over money, especially as digital currencies evolve. This nomination comes at a time when Trump has publicly challenged the Fed's independence and its policies on interest rates. Although legal experts debate Trump's authority to dismiss Fed Chair Jerome Powell, an April Supreme Court ruling enhanced presidential powers over independent agencies. The nomination process will significantly influence U.S. monetary policy.

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