JPMorgan strategists have indicated that the US Treasury yield curve could steepen further from its current widest level in four years if President Donald Trump's nominee, Stephen Miran, is confirmed as a Federal Reserve governor. Miran has expressed views that align with Trump's trade, immigration, and deregulation policies, which he argues are disinflationary and could support a more dovish Federal Reserve stance. This potential shift could reinforce the recent widening observed in the Treasury yield curve. Market data also shows a 5 basis points steepening in the 2-year to 10-year Treasury spread recently, reflecting investor anticipation of this development.