Trump transition
Trump Transition
Trump transition
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Stephen Miran, who served during Donald Trump’s first term and now works at a hedge fund, has accused the Biden administration of manipulating markets.
By Lisa Friedman
President-elect Donald J. Trump said Sunday he was choosing Stephen Miran, who served in 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 deliver an economic boom that lifts 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 has contributed $2,000 to political action committees affiliated with Trump’s election.
“I look forward to running to put into effect the President’s policy timeline to create a growing, non-inflationary economy that brings prosperity to all of America,” Miran wrote on social media on Sunday.
In July, Miran and Nouriel Roubini, a senior 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 100 percent that there is no such strategy. We have never, ever discussed anything like this.
Mr. Miran also has criticized Jerome H. Powell, the Federal Reserve chair, writing that it was “wrong politically and economically” to have urged Congress to pass a stimulus bill in October 2020.
This year, Mr. Miran donated $1,000 to a pro-Trump political action committee called Never Surrender, and another $1,000 to Trump 47, a joint fund-raising committee, according to federal campaign records.
A graduate of Boston University and a PhD in economics from Harvard, Miran was a fellow at the Manhattan Institute, a conservative think tank, before joining Hudson’s Bay in February. He is also the 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 biggest tariff threats, which the president-elect has opposed to China, Canada and the European Union.
“I am pleased that President Trump is already using price lists to gain leverage in negotiations and secure results for Americans,” he wrote in November. “It is time we address the disruptions rather than letting them pass us by. »
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, a big part of which is restructuring 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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