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I want you to meet the man who could ignite the greatest melt up in financial history.

His name is Stephen Miran. He was previously an economic advisor to President Trump. He is now on the Fed’s Board of Governors after President Trump handpicked him for the role. And he believes that the Fed should cut rates by another 1.5%-2% in the near future despite the fact the economy is growing at an annualized rate of nearly 4%.

Why do I suggest Miran could create a massive stock market bubble?

Because I think the odds of Miran becoming the next Fed Chair are much higher than people realize. And if he becomes Fed chair, the Fed will cut rates rapidly, igniting a stock market bubble that makes the current rally look like a joke.

Let me explain.

The Trump administration has made it clear that it wants the Fed to cut rates. The President and his Treasury Secretary have both stated that the Fed is too slow to act and should be aggressively easing monetary policy so the U.S. can roll over its debt load at the lowest possible rates.

In this context, consider just how much of an “inside man” Miran is for the Trump administration at the Fed. Some items of note:

1. He was one of the chief architects of the Trump tariff strategy. This suggests he’s a trusted advisor for President on major economic policy.

2. He was also a central figure in the development of the Mar-A-Lago Accord: the Trump Administration’s economic framework advocating for a weak $USD.

3. He was handpicked by the President and his inner circle to replace former Fed Governor Adriana Kugler who stepped down earlier this year.

4. Once at the Fed, Miran has openly called for aggressive rate cuts even when other Fed officials including current Fed Chair Powell are cautious. This suggests he is comfortable pushing the President’s agenda even in the face of institutional bias and pushback.

Put simply, Miran is trusted and has shown himself to be loyal to the President even when his policies are unpopular with others. These are qualities President Trump has valued above anything else throughout his career in commercial real estate.

I bring all of this up because if Miran becomes Fed Chair… and I think there’s a much better chance of this that most investors realize… the Fed will create a stock market bubble that could easily rival the Tech Bubble of the late 1990s.

Consider that stocks are already up 11% this year when the Fed has only cut rates by 0.25%. Now imagine what stocks would do if the economy continues to grow and the Fed cuts rates by 1.5%-2% in the next 12 months.

This would mean rates at 2.5% or even 2% at a time when the economy is growing at 3+%. This is literally the recipe the Fed used to create the Tech Bubble as well as the Housing Bubble.

We’re talking about the S&P 500 at 8,000 or even higher. It sounds ludicrous now, but if Miran becomes Fed Chair, the door is open to this happening sooner than most realize.

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