By Kanishka Singh
WASHINGTON (Reuters) – President-elect Donald Trump said on Sunday that Stephen Miran, a Treasury Department adviser in his first administration, will chair his Council of Economic Advisers.
The council advises the president on economic policy and is composed of three members, including the chairman. The council helps prepare an annual report that provides an overview of the country's economy, reviews federal policies and procedures and makes recommendations for economic policy.
At the beginning of 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-term bond sales.
The study echoed suggestions by Republican lawmakers that the Treasury deliberately increased the issuance of short-term Treasury bills to give the economy a “sugar high” ahead of the November election. The Treasurer rejected any such strategy.
Miran, a senior strategist at Hudson (NYSE:) Bay Capital, has said that fears of trade tariffs that have threatened Trump after he takes office next month are exaggerated.
Trade and economic experts said such duties would raise prices and would be a new tax on consumers.
Last month, Trump tapped Kevin Hassett, who was a top economic adviser in his first term, to chair his National Economic Council, which helps set domestic and international economic policy.
Hudson Bay Capital took a position in Trump's social media firm Trump Media & Technology in the first quarter of this year.