On December 22, 2024, President-elect Donald Trump announced his nomination of Stephen Miran to lead the Council of Economic Advisers for his upcoming administration, set to begin on January 20, 2025. Miran, an economist at the Manhattan Institute, has been a vocal critic of the economic policies of the Biden administration and Federal Reserve Chairman Jerome Powell.
Trump stated that Miran will collaborate with his economic team to foster significant economic growth benefiting all Americans. The Council, comprising three members including the chair, advises the president on economic policy and prepares an annual report summarizing the nation's economic outlook.
Miran previously served as a senior economic policy adviser at the Treasury Department during Trump's first term and holds a doctorate in economics from Harvard University. He expressed his honor at the nomination, stating his eagerness to implement the President's agenda for a thriving, noninflationary economy.
This year, Miran co-authored a paper alleging that the Treasury Secretary and the Biden administration manipulated the economy ahead of the presidential election, a claim that Yellen has denied. Additionally, he has argued that concerns in Mexico regarding potential tariffs that Trump may impose are exaggerated, noting that such tariffs could effectively act as a new tax on consumers.