Trumponomics’ Burdensome Argument: Miran’s Inconsistent Theory on US Trade Deficit and Manufacturing Competitiveness
New York – In a recent article, economist Stephen Miran, soon to head President Donald Trump’s Council of Economic Advisers, proposes an unconventional explanation for the US’s chronic trade deficit. According to Miran, the primary driver is foreign demand for US financial assets, particularly Treasury bonds. Miran argues that this international appetite forces the US ...