Ex-Fed governor returns to Hudson Bay as senior strategist

Stephen Miran, a former Federal Reserve governor, is rejoining Hudson Bay Capital Management as a senior strategist. He will rejoin the firm’s research and investment teams immediately.

Miran previously worked at Hudson Bay leading macroeconomic research. His work included a framework known as the “Mar-a-Lago Accord,” which examined how tariffs and other policy tools could be used to strengthen the United States’ position in global trade.

He left Hudson Bay to serve as chair of the White House Council of Economic Advisers at the start of President Donald Trump’s second term. Miran later joined the Federal Reserve Board of Governors in September and resigned from that role in May.

Hudson Bay, which manages about $22 billion, said Miran’s return reflects the growing influence of geopolitical factors on investment decisions. In his new role he will work alongside economist Nouriel Roubini as part of the firm’s advisory and investment team.

The firm highlighted Miran’s combined experience in market analysis and economic policymaking and said he will support strategies that integrate policy and geopolitical developments into investment research.