President-elect Donald Trump has nominated Stephen Miran to chair the Council of Economic Advisers, signaling a potential shift in U.S. economic policy with a focus on increased political control over the Federal Reserve and a more aggressive economic agenda.
Stephen Miran Named as Trump’s Chief Economist
President-elect Donald Trump announced his selection of Stephen Miran to lead the Council of Economic Advisers (CEA). Miran, a former Treasury Department senior adviser during Trump’s first administration, is known for his expertise in economic policy and controversial views on Federal Reserve reform.
Miran’s Background and Credentials
Stephen Miran holds a doctorate in Economics from Harvard University and serves as an economics fellow at the Manhattan Institute. He is also a senior strategist at Hudson Bay Capital Management LP, bringing both academic and market experience to his new role. His tenure during Trump’s previous administration positioned him as a trusted voice on economic policy.
Trump’s Vision for Economic Growth
Trump emphasized that Miran would work to deliver a “Great Economic Boom,” prioritizing a noninflationary economy aimed at benefiting all Americans. The statement reflects Trump’s broader economic goals for his administration, focusing on growth, job creation, and monetary reform.
A Critic of the Federal Reserve
Miran’s nomination highlights his strong criticism of the Federal Reserve’s independence. He has called for a sweeping overhaul, including reducing board member terms from 14 years to 8 and allowing the president to dismiss board members at will. These views align with Trump’s earlier criticisms of the Fed and suggest a more politically influenced approach to monetary policy.
Criticism of Biden’s Policies
Miran has been an outspoken critic of President Joe Biden’s economic policies. He argued that the bipartisan infrastructure bill in 2021 would exacerbate inflation and accused the Biden administration of manipulating the debt market—a claim Treasury Secretary Janet Yellen firmly denied.
Future of the Council of Economic Advisers
If confirmed by the Senate, Miran will succeed Jared Bernstein, who was appointed by President Biden in 2023. The transition marks a potential ideological shift in the CEA’s role, emphasizing a more aggressive stance on economic reforms and government oversight.
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