US president-elect Donald Trump said on Sunday that Stephen Miran, a Treasury Department adviser in his first administration, would be the chairman of his Council of Economic Advisers.
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The council advises the president on economic policy and is composed of three members, including the chair. The council helps in the preparation of an annual report that gives an overview of the country’s economy, reviews federal policies and programmes and makes economic policy recommendations.
Earlier this year, Miran and economist Nouriel Roubini wrote a hedge fund study that said the US 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.
Miran, a senior strategist at Hudson Bay Capital, has also argued that fears over trade tariffs that Trump has threatened to impose after he takes office next month are overblown.
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Trade and economic experts have said such duties would raise prices and would effectively be a new tax on consumers.