President-elect Donald Trump named pro-crypto economist and former Treasury official Stephen Miran to head the White House Council of Economic Advisers (CEA). This appointment brings experienced leadership back to Washington and will help reshape Trump’s vision for a booming, noninflationary economy.
On Sunday, Trump posted on Truth Social, ‘Steve will work with the rest of my economic team to deliver a great economic boom that lifts all Americans.’
The CEA consists of three people who advise the president on economic policy and strategy. As its chair, Miran will be key to the administration’s economics agenda, offering insights for key policy decisions, serving as a spokesperson, and promoting the administration’s decisions.
Stephen Miran Appointed CEA Chair, Backed By Crypto
Miran thanked the nomination and is now a senior strategist at hedge fund Hudson Bay Capital Management. He posted on X, ‘I look forward to working to help implement the President’s policy agenda to create a booming, noninflationary economy that brings prosperity to all of our people.’
I am beyond honored that President Trump has chosen me to lead his Council of Economic Advisers. I look forward to working to help implement the President's policy agenda to create a booming, noninflationary economy that brings prosperity to all Americans! pic.twitter.com/CROmzuk61v
— Stephen Miran (@SteveMiran) December 22, 2024
Miran was appointed through Senate confirmation. His nomination comes after Trump recently announced his economic team, appointing Kevin Hassett as the chair of the National Economic Council and Paul Atkins, who will replace Gary Gensler as chair of the Securities and Exchange Commission (SEC).
While Miran’s nomination has resonated with the cryptocurrency community, he’s been backed by Michael Saylor, executive chairman of MicroStrategy. In his recent interview with The Bitcoin Layer, Miran criticized the current financial regulatory framework as ‘excessive’ and restrictive of innovation.
https://twitter.com/TheBitcoinLayer/status/1867006518769619314
Miran also said he thinks crypto will play a big role in innovation and that a Trump administration economic boom could be ushered in by crypto.
This has been a time when Miran has been vocal about the need to foster innovation to spur economic development. This pro-crypto stance suggests that the Trump administration is more likely to have a pro-digital asset regulatory environment.
Miran has not stopped criticizing Federal Reserve Chair Jerome Powell and the Biden administration. He has alleged that Powell’s call for aggressive fiscal and monetary stimulus in October 2020 was a politically motivated drive to inform the election.
As part of that broader vision of economic revitalization, a more critical stance on the current administration’s economic policies is a natural match for Donald Trump’s agenda: deregulation, innovation, and promoting growth.
Trump is doing the groundwork to build his economic team for an ambitious term he’s touting before officially being sworn in. The Trump administration will go big with a focus on creating a “great economic boom”, which means they will support businesses, keep them in the US to innovate and fix all the economic challenges that are faced these days.
The Senate’s preliminary approval of Miran’s appointment is expected to shape the bulk of the discussions on the future of U.S. financial policy, as his pro-crypto outlook and vision for economic growth are being apprehended.
Everyone in the cryptocurrency community and economic stakeholders will closely monitor the potential impact on traditional markets and digital assets.
