'Trump's Advisor' Miron's Change of Heart?... "Strong Dollar is Good for America"

Miron, Who Proposed the 'Mar-a-Lago Accord'

"No Secret Talks for Weak Dollar"

"Miron Report Overinterpreted...

Monetary Policy Authority Lies with Treasury Secretary"

Steven Miron, a member of the U.S. White House Council of Economic Advisers (CEA), emphasized the benefits of a strong dollar, dismissing some speculations that the Trump administration might induce a weaker dollar as "groundless."

Appearing on a Bloomberg podcast on the 22nd (local time), Miron said, "The rumors that something is being pushed secretly are not true," drawing a line against claims that a monetary agreement for dollar depreciation is being discussed.

He stated, "The official authority on monetary policy lies with Treasury Secretary Scott Besant." Treasury Secretary Besant has consistently maintained since taking office that "a strong dollar is advantageous for the U.S." Miron also emphasized that "the dollar's status as a key currency signifies global dominance beyond mere exchange rate levels."

Miron is also well-known as the author of the 'Miron Report,' which provided the theoretical basis for the tariff policy of Trump's second administration. In this report, also called the 'Trump Administration Prophecy,' he pointed out the costs associated with a strong dollar and proposed a 'Mar-a-Lago Accord' similar to the 1985 Plaza Accord.

After Miron joined the White House, expectations spread in the market that the Trump administration would actually pursue a policy to depreciate the dollar to resolve the trade deficit. However, Miron clarified that "the report did not urge specific policies, and the market overinterpreted its content."

However, in a speech last month, he mentioned that "the dollar's hegemonic status burdens American companies and workers," leading to criticism of confusion in the administration's exchange rate policy.

Reporter Lim Dayeon allopen@hankyung.com