A few of the distinguished names in financial policymaking have held the place, which advises the president on U.S. and international financial coverage.
President-elect Donald Trump on Dec. 22 nominated Stephen Miran to chair the Council of Financial Advisers (CEA).
Miran, who has a PhD in economics from Harvard College, served as a senior adviser for the Treasury Division through the president-elect’s first time period.
Miran presently works as a fellow on the Manhattan Institute and a senior strategist on the Hudson Bay Capital international funding agency. He’s additionally a co-founder of Amberwave Companions, an funding agency with a concentrate on investments aligned with U.S. jobs, safety, and development. The technique is dubbed “JSG,” a transparent counter to left-wing “environmental, social, governance,” or ESG-based methods.
In his new capability as CEA chief, Miran would play a vital function in advising Trump on methods to perform his formidable financial agenda, from points like taxation and regulation to tariffs and the deficit.
The place requires Senate affirmation. Miran will probably face few difficulties in getting confirmed given his expertise within the discipline.
Throughout Trump’s first time period, three folks—Kevin Hassett, Tomas Philipson, and Tyler Goodspeed—headed the CEA.
Jared Bernstein presently heads the company. He succeeded Cecilia Rouse in July 2023.
A few of the most distinguished names in economics and financial policymaking have chaired the company prior to now, together with former Federal Reserve Chair Alan Greenspan, Nobel laureate Joseph Stiglitz, Treasury Secretary Janet Yellen, former Fed Chair Ben Bernanke, and Chicago Fed President Austan Goolsbee.
“Financial pondering on the CEA has been marked by vital continuities,” stated Greenspan in an October 2005 speech. “Nonetheless, the evolution of pondering on the CEA through the years has mirrored the financial challenges of every period in addition to persevering with developments in financial analysis.”
In 1946, Congress established the CEA by way of the Employment Act. Since then, the CEA has suggested the president on home and worldwide financial coverage with goal info, counting on knowledge and analysis.
The CEA prepares the annual Financial Report of the President, a publicly obtainable report that gives a snapshot of the nation’s financial progress. Moreover, the CEA’s 18-person workers presents financial insurance policies to assist U.S. employees and critiques federal directives to find out whether or not they advance sound financial coverage.
The CEA produces white papers, sometimes authored by its chair, that analyze latest statistics or talk about financial topics within the information.
