Written by Kanishka Singh
WASHINGTON (Reuters) – President-elect Donald Trump said on Sunday that Stephen Meran, a Treasury Department adviser in his first administration, will serve as chairman of his 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 recommendations on economic policy.
Earlier this year, Meran and economist Nouriel Roubini authored a hedge fund study that said the US Treasury last year effectively provided economic stimulus by easing long-term bond sales.
The study echoed suggestions by Republican lawmakers that the Treasury Department deliberately increased issuance of short-term Treasuries to give the economy a “sugar high” before the November election. The Treasury Department denied any such strategy.
Miran, a senior strategist at Hudson (NYSE:) Bay Capital, also argued that concerns about trade tariffs that Trump has threatened to impose after taking office next month are overblown.
Trade and economic experts said that such fees would raise prices and would serve as a new tax on consumers.
Last month, Trump appointed Kevin Hassett, who was a key economic adviser in his first term, to head his National Economic Council, which helps set domestic and international economic policy.
Hudson Bay Capital took a position in Trump's social media company Trump Media & Technology in the first quarter of this year.
