Trump taps ex-Treasury official Miran as chair of Council of Economic Advisers By Reuters

By Kanishka Singh

WASHINGTON (Reuters) – President-elect Donald Trump said on Sunday that Stephen Miran, the Treasury Department adviser in his first administration, will be chairman of the Council of Economic Advisers.

The council advises the president on economic policy and consists of three members, including the president. The council helps prepare an annual report that provides an overview of the nation’s economy, reviews federal policies and programs, and makes economic policy recommendations.

Earlier this year, Miran and economist Nouriel Roubini wrote about hedge fund research that found the U.S. Treasury had effectively provided economic stimulus by arranging sales of long-term bonds last year.

The study echoed suggestions from Republican lawmakers that the Treasury is deliberately increasing short-term Treasury bond issuance to give the economy a “sugar boost” ahead of the November election. The Treasury rejected such a strategy.

Miran, a senior strategist at Hudson (NYSE:) Bay Capital, also argued that fears about trade tariffs that Trump has threatened to impose after taking office next month are exaggerated.

Trade and economic experts said such taxes would increase prices and be a new tax on consumers.

Last month, Trump tapped Kevin Hassett, a key economic adviser during his first term, to head the National Economic Council, which helps set domestic and foreign economic policies.

Hudson Bay Capital took over Trump’s social media company, Trump Media & Technology, in the first quarter of this year.