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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 that he was choosing Stephen Miran, who served at 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 a Great Economic Boom that lifts up all Americans,” Mr. Trump wrote in his announcement on social media.
The Council of Economic Advisers is an organization of experts that has operated within the White House, providing the president with recommendations on domestic and foreign 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 political timeline to create a booming, non-inflationary economy that brings prosperity to all of America,” Mr. S. wrote. Simpson on Sunday. They look at social networks.
In July, Miran and Hudson Bay Capital senior Nouriel Roubini 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 to ease monetary conditions, and I can guarantee you one hundred percent that such a strategy does not exist. We never, ever discussed anything like that.
Miran also criticized Jerome H. Powell, chairman of the Federal Reserve, writing that it was “politically and economically incorrect” to have suggested to Congress that it 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.
Graduated from Boston University and holds a Ph. D. A graduate in economics from Harvard, Miran is a member of the Manhattan Institute, a conservative think tank, before moving to Hudson Bay in February. He is also a 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 increased 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 those policies are having on communities. More about Lisa Friedman
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