US President Donald Trump is considering four replacements for Federal Reserve Board member Adriana Kugler after her resignation. Potential nominees include economic adviser Kevin Hassett and former Fed governor Kevin Warsh. The nominee will have a significant impact on the country’s monetary policy, including federal interest rates.

Hassett, also the director of the National Economic Council, holds a stake in Coinbase Global worth between $1 million and $5 million. Warsh, who served as a Fed governor, believes blockchain technology could benefit the US central bank’s payment systems. He has advocated for cryptocurrencies that could function as a reliable unit of account.

The decision to nominate a replacement follows Kugler’s resignation on Aug. 1, with no reason given for her departure. Trump’s clashes with Fed Chair Jerome Powell have raised questions about the president’s authority to influence federal interest rates. Legal experts suggest Trump may not have the power to fire Powell without cause.

Trump’s public challenges to the Fed’s independence in setting interest rates have sparked debate. A recent Supreme Court decision expanded presidential powers over previously independent agencies. This decision upheld Trump’s authority to remove members of agencies like the National Labor Relations Board and the Merit Systems Protection Board.

Read more at Cointelegraph: Crypto Investor Under Consideration To Fill Crucial Fed Seat: Report