- D. Trump announces a few more picks for his administration before inauguration next month
- S. Miran previously accused the Biden administration of manipulating the economy
- Many changes should come if Trump's picks will get approved
D. Trump announces a few more picks for his administration before inauguration next month
The first plan of the newly elected president, Donald Trump, was to announce all his picks for administration before Thanksgiving. That did not go as planned, and he is still choosing. Now, when Christmas is right around the corner, he makes a few picks again.
President-elect has picked Stephen Miran as the chair of the Council of Economic Advisers (CEA) nominee. Miran is a Bitcoin advocate supporting crypto's economic growth role[1]. He also criticizes the current financial regulatory framework as being overly burdensome.
S. Miran is recognized as a pro-innovation and pro-crypto person. He previously served as a senior adviser for economic policy at the Treasury Department during the first Trump term. Senate still needs to confirm Trump's nomination, but Miran will oversee the CEA, which advises the President on various economic questions if they do so.
The agency also focuses on policies promoting full employment, economic growth, and stability. Miran would work alongside other agencies and with the rest of the economics team. As D. Trump said, Miran would serve to " deliver a Great Economic Boom that lifts up all Americans."
S. Miran previously accused the Biden administration of manipulating the economy
S. Miran has a doctorate in economics from Harvard University. He now serves as Senior Strategist for Hudson Bay Capital Management and has a fellowship at the Manhattan Institute. He reacted to the news on his X: "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, non-inflationary economy that brings prosperity to all Americans!"
This nomination shows how D. Trump is determined to involve crypto in the economic structure. The crypto community has shown significant support for Miran, including endorsements from prominent figures like Michael Saylor, the executive chairman of MicroStrategy[2].
Recently, Miran expressed his dissatisfaction with the current financial regulatory system, describing it as excessively restrictive. He argued that these burdensome regulations stifle the growth and efficiency of financial institutions, hindering progress.
Miran emphasized his strong belief in innovation as a driving force for economic growth and highlighted the transformative potential of cryptocurrency. "I think that crypto has a big role potentially to play in innovation and ushering in another Trump Administration economic boom," he stated, underscoring his optimism about the role of technology in shaping the future economy.
This summer, Miran co-authored a controversial paper accusing the Biden administration of manipulating economic conditions ahead of the election. Alongside economist Nouriel Roubini, he claimed the administration interfered with debt markets and overstepped the Federal Reserve's core responsibilities to suppress long-term interest rates artificially. The U.S. Treasury Department firmly denied these allegations.
Many changes should come if Trump's picks will get approved
Miran has also been vocal about his criticism of Federal Reserve Chairman Jerome Powell. He argued that Powell’s recommendation for a major stimulus package in late 2020 was both politically and economically misguided. His remarks reflect a broader dissatisfaction with the current financial leadership and a push for significant changes to foster innovation and growth.
Miran’s views resonate within the crypto community, where his emphasis on the potential of cryptocurrency aligns with the broader vision of a more innovative and dynamic economy. Trump has appointed several pro-crypto figures to his key positions in the upcoming administration, like H. Lutnick. RFK Jr., Scott Bessent.
Donald Trump has announced that he chose Paul Atkins, a former SEC commissioner known for his favorable stance on cryptocurrencies, as his nominee for chair of the SEC. Additionally, Trump has appointed David Sacks as the first-ever AI and Crypto Czar. In this newly created role, Sacks will shape policy in these areas, reflecting his strong advocacy for innovation.
These appointments highlight a clear commitment to fostering growth in both sectors. He recently appointed Bo Hines to the presidential council on digital assets[3]. He previously ran to represent a North Carolina district in Congress but narrowly lost to Democrat Wiley Nickel. Now, Trump has picked him as executive director of the Presidential Council of Advisers for Digital Assets, which the incoming crypto czar D. Sacks will chair.
"In his new role, Bo will work with David to foster innovation and growth in the digital assets space, while ensuring industry leaders have the resources they need to succeed," Trump wrote in his announcement.
Hines was one of several Republican candidates backed by the American Dream Federal Action super PAC and other pro-crypto groups. Among his supporters was former FTX CEO Ryan Salame, who is now serving a seven-year prison sentence for crimes that included making illegal political contributions. Reports show Salame donated $13.4 million to Republican candidates, including Hines.
Bo reacted to his nomination on X: "Thank you, Mr. President! It will be the honor of a lifetime to serve in your next administration. Thank you for everything you have done and continue to do for our country."
