White House economic advisor resigns, Trump's new nominee sparks cryptocurrency market expectations

In early February, the Trump administration underwent a key personnel change. Federal Reserve Board member Stephen Miran officially resigned from his position as Chair of the White House Economic Advisory Committee, marking an important shift in economic policy direction. Since taking on the role in September 2025, Miran’s resignation is widely interpreted as a prelude to the government advancing a new economic agenda.

Miran’s Resignation and Wash’s Appointment

Trump quickly nominated former Federal Reserve Board member Kevin Wash to succeed Miran. Wash served as a Fed governor from 2006 to 2011 and has extensive experience in central bank policy and financial markets. Unlike Miran, Wash’s policy stance has shifted significantly in recent years—he has moved from a hawkish supporter to one more inclined toward supporting rate cuts and looser monetary policy, aligning closely with the current economic stimulus approach favored by the Trump administration.

Expectations of Easing Policies and Market Reactions

Wash’s appointment sends a clear signal: the Trump administration will further pursue accommodative monetary policies and deregulation measures. Markets generally expect that, under the guidance of the new economic advisory team, the Federal Reserve may accelerate rate cuts, and the financial regulatory framework could also face adjustments. This policy environment shift is particularly favorable for risk assets.

Positive Outlook for the Cryptocurrency Market

An easy monetary policy environment has always supported risk assets like cryptocurrencies. With the Trump administration emphasizing support for the crypto industry and the policy direction implied by Wash’s appointment, market participants remain optimistic about the prospects of digital assets. The performance of mainstream cryptocurrencies like Solana (SOL) reflects this expectation, with SOL recently trading at $78.51. Although down 1.56% in the past 24 hours, the market generally remains bullish on the long-term support that loose policies provide for crypto assets.

This personnel change underscores the Trump administration’s determination to implement economic stimulus policies, signaling a more friendly policy environment for cryptocurrencies and the broader risk asset market.