Stephen Miran

Stephen Miran is an American economist, investor and former Federal Reserve governor. He rose to prominence as one of the leading economic voices in Donald Trump’s administration. Today, he advises investors as Senior Strategist at Hudson Bay Capital Management.

As Chair of the Council of Economic Advisers, Miran served as President Trump’s chief economic adviser. He helped shape the administration’s thinking on interest rates, trade and growth.

Later, Miran joined the Federal Reserve Board. During his eight months as governor, he challenged the consensus at every policy meeting. He pushed for larger interest-rate cuts and warned that policymakers overstated inflation risks. At the same time, he argued that high rates could tip the US economy into recession.

Meanwhile, investors and policymakers closely followed his views on trade and the dollar. Before entering government, Stephen Miran wrote a paper that explored how tariffs and other tools could reshape the international monetary system. Wall Street later dubbed the idea the “Mar-a-Lago Accord”. The proposal sparked debate over the future of global trade and America’s economic power.

Earlier in his career, Miran spent more than a decade in financial markets. He worked as Senior Strategist at Hudson Bay Capital Management and served as Senior Adviser for Economic Policy at the US Treasury Department. There, he helped support the economy during the pandemic recession. He also held a fellowship at the Manhattan Institute.

Throughout his career, Stephen Miran has focused on the links between policy and markets. He speaks on monetary policy, inflation, tariffs, fiscal policy and recession risks. He also examines the growing influence of geopolitics on the global economy.

His research has appeared in the American Economic Journal. In addition, he has written for The Wall Street Journal, Bloomberg, Barron’s and National Review. He earned his PhD in Economics from Harvard University, where he studied under Martin Feldstein. He received his bachelor’s degree in economics, philosophy and mathematics from Boston University.