President-elect Donald Trump speaks at AmericaFest, on December 22, 2024, in Phoenix, Arizona.
| Photo Credit: AP
President-elect Donald Trump said on Sunday (December 22, 2024) that Stephen Miran, a Treasury Department adviser in his first administration, would be the chair of his Council of Economic Advisers.
The council advises the President on economic policy and is composed of three members, including the chair. The council assists in the preparation of an annual report that gives an overview of the country’s economy, reviews federal policies and programs and makes economic policy recommendations.
Earlier this year, Mr. Miran and economist Nouriel Roubini authored a hedge fund study that said the U.S. Treasury last year effectively provided economic stimulus by moderating long-dated bond sales.
The study echoed suggestions by Republican lawmakers that the Treasury deliberately increased issuance of short-term Treasury bills to give the economy a “sugar high” ahead of the November elections. The Treasury denied any such strategy.
Mr. Miran, a senior strategist at Hudson Bay Capital, has also argued that fears over trade tariffs that Mr. Trump has threatened to impose after he takes office next month are overblown.
Trade and economic experts have said such duties would raise prices and would effectively be a new tax on consumers.
Last month, Mr. Trump tapped Kevin Hassett, who was a key economic adviser in his first term, to chair his National Economic Council, which helps set domestic and international economic policy.
Hudson Bay Capital took a position in Mr. Trump’s social media firm Trump Media & Technology in the first quarter of this year.
Published – December 23, 2024 07:13 am IST