Trump transition
Trump transition
Trump Transition
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Stephen Miran, who served in Donald Trump’s first term and now works at a hedge fund, has accused Biden’s management of manipulating markets.
By Lisa Friedman
President-elect Donald J. Trump said Sunday that he was choosing Stephen Miran, who served at the Treasury Department during Trump’s first term, to head the Council of Economic Advisers.
“Steve will work with the rest of my economic team to achieve an economic boom that boosts all Americans,” Trump wrote in his announcement on social media.
The Council of Economic Advisers is a panel of experts that historically has operated within the White House, providing the president with advice on domestic and international economic policy.
Mr. Miran, whose role requires Senate confirmation, was a senior adviser for economic policy at the Treasury Department during Mr. Trump’s first term, a role that included advising on fiscal support during the coronavirus pandemic.
He is now a senior strategist at Hudson Bay Capital Management, a hedge fund, and contributed $2,000 to political action committees affiliated with Trump’s election.
“I look forward to working to help implement the President’s policy agenda to create a booming, noninflationary economy that brings prosperity to all America,” Mr. Miran wrote on social media on Sunday.
In July, Miran and Nouriel Roubini, a senior adviser at Hudson Bay Capital, wrote an article accusing Janet Yellen, President Biden’s Treasury secretary, of manipulating markets to covertly stimulate the economy.
Yellen said at the time that the document “suggests a strategy for easing monetary conditions, and I can assure you one hundred percent that such a strategy does not exist. We have never, ever discussed anything like this.
Miran also criticized Federal Reserve Chairman Jerome H. Powell, writing that it was “politically and economically incorrect” to have suggested Congress pass a stimulus bill in October 2020.
This year, Miran donated $1,000 to a pro-Trump political action committee called Never Surrender, and $1,000 to Trump 47, a joint fundraising committee, according to court records. federal campaign.
Graduated from Boston University and holds a Ph. D. A graduate in economics from Harvard, Miran is a member of the Manhattan Institute, a conservative think tank, before moving to Hudson Bay in February. He is also a co-founder of Amberwave Partners, an investment advisory firm, according to his LinkedIn profile.
Since the election, Miran has come out strongly in favor of Trump’s increased tariff threats, which the president-elect has opposed to China, Canada and the European Union.
“I am glad that President Trump is already using price lists to gain leverage in negotiations and achieve secure outcomes for Americans,” he wrote in November. “It was time to face the disorders instead of letting them go. “
In an interview this month, Miran said Trump’s decisive election victory gave him a “strong mandate to continue what he said he was going to do, much of which is to restructure the global trade formula to make it more equitable for Americans. “.
Alan Rappeport contributed reporting from Washington.
Lisa Friedman is a Times reporter who writes about how governments are addressing climate change and the effects of those policies on communities. More about Lisa Friedman
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