Wall Street Breakfast Trump nominates adviser Miran to Fed
8 snips
Aug 8, 2025 President Trump's nomination of Steve Miran could sway the Federal Reserve's direction with his dovish perspective. OpenAI introduces GPT-5, raising the stakes in tech innovation. Meanwhile, Union Pacific launches a new freight route from L.A. to Chicago, aiming to upend trucking dominance. Additionally, Trade Desk shares face a drubbing, and Intel's CEO emphasizes the company's commitment amidst market fluctuations.
AI Snips
Chapters
Transcript
Episode notes
Trump Picks CEA Chair For Fed Seat
- Trump nominated Stephen Myron to fill Adriana Kugler's Fed seat through Jan 31, 2026.
- The selection signals loyalty is Trump's top criterion and suggests a more political, dovish Fed.
Past Criticisms Clash With Expected Votes
- Myron previously criticized White House influence and warned against cutting rates.
- Yet his nomination implies he'll back large cuts, creating an incongruity between past remarks and expected voting.
OpenAI Releases GPT-5 Widely
- OpenAI launched GPT-5 and offers tiered access including GPT-5 Pro for extended reasoning.
- Microsoft rolled it into its products, signaling big AI integration across software and developer tools.