Trump Selects Former Treasury Official as Chief Economic Adviser

Stephen Miran, a former official from the Treasury Department during Donald Trump's prior term and currently employed at a hedge fund, has accused the Biden administration of market manipulation.

On Sunday, President-elect Donald J. Trump announced his decision to appoint Stephen Miran as head of the Council of Economic Advisers. Miran has prior experience in the Treasury Department under Trump's administration.

Trump expressed confidence in Miran's ability to collaborate with the economic team to stimulate a significant economic revival benefiting all citizens.

The Council of Economic Advisers is composed of experts who typically operate within the White House, offering the president guidance on both national and global economic policies.

Miran, whose appointment is subject to Senate approval, previously served as a senior economic policy advisor during Trump's first term. His responsibilities included offering advice on fiscal matters amid the coronavirus outbreak.

Currently, Miran holds a senior position at Hudson Bay Capital Management, a hedge fund. He has financially supported Trump-affiliated political action committees, contributing $2,000 during the election period.

Miran expressed eagerness on social media to help implement Trump's economic strategies aimed at fostering widespread prosperity without inflation.

In a paper co-authored with Nouriel Roubini from Hudson Bay Capital, Miran accused Janet Yellen, President Biden’s Treasury Secretary, of secretly influencing markets to boost the economy.

Yellen strongly denied these allegations, asserting that there is no such clandestine strategy to ease financial conditions.

Miran also criticized Jerome H. Powell, Chairman of the Federal Reserve, claiming that political and economic decisions made in October 2020 were incorrect.

This year, Miran contributed to Trump-supporting political groups, including $1,000 each to the Never Surrender committee and Trump 47's joint fundraising efforts, according to federal records.

Miran, who earned a doctorate in economics from Harvard and completed his undergraduate studies at Boston University, was a fellow at the Manhattan Institute before joining Hudson Bay. He also co-founded Amberwave Partners, an investment advisory firm.

Following the election, Miran has vocally supported Trump's use of tariffs as leverage in negotiations with countries like China, Canada, and the European Union, viewing them as necessary strategies to improve American security.

In a recent interview, Miran cited Trump's election victory as a strong mandate to pursue reforms in the global trading system, ensuring fairness for American interests.