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US: Stephen Miran Senate Nomination Hearing Underway

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A Senate Banking Committee nomination hearing is underway for Stephen Miran to be Chairman of the White House Council of Economic Advisors. LIVESTREAM

  • Miran is considered one of the key ideologues of the Trump administration’s trade and economic agenda, advocating for "restructuring the global trading system" and bringing down the value of the US dollar.
  • Miran wrote in November: “The root of the economic imbalances lies in persistent dollar overvaluation that prevents the balancing of international trade, and this overvaluation is driven by inelastic demand for reserve assets. As global GDP grows, it becomes increasingly burdensome for the United States to finance the provision of reserve assets and the defense umbrella, as the manufacturing and tradeable sectors bear the brunt of the costs.”
  • Bloomberg notes on Miran's paper: "The 41-page document has spawned an interpretive frenzy, drawing in the likes of JPMorgan Chase and Apollo Management — and it’s even helped drive market moves, despite the author’s insistence that he’s not laying out a policy roadmap."
  • The Financial Post has a useful overview of Miran's various positions here.
  • The panel meeting also includes nomination hearings for Jeffrey Kessler, to be Under Secretary of Commerce for Industry and Security, Department of Commerce; Mr. William Pulte, to be Director, Federal Housing Finance Agency; andJonathan McKernan, to be Director, Bureau of Consumer Financial Protection.
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A Senate Banking Committee nomination hearing is underway for Stephen Miran to be Chairman of the White House Council of Economic Advisors. LIVESTREAM

  • Miran is considered one of the key ideologues of the Trump administration’s trade and economic agenda, advocating for "restructuring the global trading system" and bringing down the value of the US dollar.
  • Miran wrote in November: “The root of the economic imbalances lies in persistent dollar overvaluation that prevents the balancing of international trade, and this overvaluation is driven by inelastic demand for reserve assets. As global GDP grows, it becomes increasingly burdensome for the United States to finance the provision of reserve assets and the defense umbrella, as the manufacturing and tradeable sectors bear the brunt of the costs.”
  • Bloomberg notes on Miran's paper: "The 41-page document has spawned an interpretive frenzy, drawing in the likes of JPMorgan Chase and Apollo Management — and it’s even helped drive market moves, despite the author’s insistence that he’s not laying out a policy roadmap."
  • The Financial Post has a useful overview of Miran's various positions here.
  • The panel meeting also includes nomination hearings for Jeffrey Kessler, to be Under Secretary of Commerce for Industry and Security, Department of Commerce; Mr. William Pulte, to be Director, Federal Housing Finance Agency; andJonathan McKernan, to be Director, Bureau of Consumer Financial Protection.