By Kanishka Singh
WASHINGTON (Reuters) – President-elect Donald Trump mentioned on Sunday that Stephen Miran, a Treasury Division adviser in his first administration, would chair his Council of Financial Advisers.
The council advises the president on financial coverage and consists of three members, together with the president. The council helps put together an annual report that gives an outline of the nation’s financial system, opinions federal insurance policies and packages, and makes financial coverage suggestions.
Earlier this yr, Miran and economist Nouriel Roubini wrote a hedge fund research that discovered the U.S. Treasury really stimulated the financial system final yr by moderating gross sales of long-term bonds.
The research echoes recommendations by Republican lawmakers that Treasury intentionally elevated the issuance of short-term Treasuries to present the financial system a “sugar excessive” earlier than the November election. The Treasury has denied such a technique.
Miran, senior strategist at Hudson (NYSE:) Bay Capital, additionally argued that fears about commerce tariffs that Trump has threatened to impose after he takes workplace subsequent month are overblown.
Commerce and financial consultants have mentioned such duties would drive up costs and successfully quantity to a brand new tax on shoppers.
Final month, Trump named Kevin Hassett, who was a key financial adviser throughout his first time period, to chair his Nationwide Financial Council, which helps set home and worldwide financial coverage.
Hudson Bay Capital took a place in Trump’s social media firm, Trump Media & Know-how, within the first quarter of this yr.
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