Wall Street Breakfast Trump nominates adviser Miran to Fed
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.
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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.