Bloomberg is reporting that the White House is preparing for US Pres. Trump to announce CEA Chair Stephen Miran to become the temporary Fed Board member replacing Adriana Kugler.
UPDATE: Trump now announces that Miran will be taking Kuglers seat until January 31, 2026.
Who is Stephen Miran?
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Current Role: Stephen Miran has served as Chair of the Council of Economic Advisers since March 2025. He was confirmed by the Senate in a 53–46 vote.
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Education: He holds a Ph.D. in Economics from Harvard University and a B.A. from Boston University in economics, philosophy, and mathematics.
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Professional Background: Miran has worked as a senior strategist at a hedge fund, a senior fellow at a policy think tank, and served as a senior advisor at the U.S. Treasury during the first Trump administration. He was involved in designing and executing emergency fiscal support during the pandemic and received recognition for exceptional service.
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Research & Focus Areas: His work has examined household savings, tariffs, debt issuance, and global monetary dynamics. He is a critic of the overvaluation of the U.S. dollar and supports the use of tariffs to adjust trade balances.
Economic Philosophy & Policy Views
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Deregulation: Miran views deregulation as a key tool to lower business costs and combat inflation by expanding supply and reducing compliance burdens.
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Trade Policy: He supports tariffs and protectionist measures as a way to correct structural trade imbalances, challenging the mainstream view that all protectionism is harmful.
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Federal Reserve Reform: He has expressed concern about the level of independence at the Federal Reserve and believes more accountability is needed, especially when monetary policy decisions have major economic and political implications.
Today on Bloomberg:
Miran said today:
- There is virtually no inflationary pressures from the tariffs.
- If there were to have a price impact it would be a one-time price increase
- In the short run there can be price volatility. It is a short-run price adustment.
- Thinks GOv. Waller has built up a really good track record on inflation and not succumbing to tariff inflation threat.
This article was written by Greg Michalowski at investinglive.com.