Federal Reserve's Latest Board Addition: Economist Stephen Ira Miran Takes the Helm

President Trump has unveiled his latest appointment to the Federal Reserve Board, selecting Stephen Ira Miran, the sitting White House Chair of the Council of Economic Advisers, to assume the newly vacated position through January 31, 2026. The move represents part of a broader effort to reshape the central bank’s leadership while the administration continues recruiting for a permanent successor.

Who Is Stephen Ira Miran?

An accomplished economist with deep roots in elite institutions, Miran boasts impressive academic credentials. He earned his undergraduate degree from Boston University in 2005, where he majored in Economics, Philosophy, and Mathematics. Subsequently, he completed his doctoral work in Economics at Harvard University in 2010, studying under the guidance of renowned economist Martin Feldstein.

Beyond academia, Miran’s professional trajectory reflects substantial involvement in U.S. fiscal and monetary matters. From 2020 to 2021, he served as a Senior Economic Policy Advisor at the Treasury Department, where he played a role in designing pandemic relief initiatives, including contributions to the Payroll Protection Program within the CARES Act framework.

Current Professional Standing

Today, Miran wears multiple professional hats. He functions as a Senior Strategist at Hudson Bay Capital Management, co-founded the asset management firm Amberwave Partners, and maintains a part-time research affiliation with the Manhattan Institute. His economic expertise spans both public policy and private capital markets.

Policy Orientation and Market Implications

Trump praised Miran’s economic acumen, describing him as having “unparalleled” expertise in economic matters and emphasizing his stellar performance throughout the second administration. Notably, Miran has consistently backed Trump’s protectionist economic framework, particularly advocating for tariff-based strategies aimed at narrowing trade deficits and facilitating dollar appreciation relative to peer currencies—positions that could significantly influence Federal Reserve deliberations on international economic policy.