In this episode, Nik Bhatia welcomes Stephen Miran, a PhD economist and senior strategist at Hudson Bay, to uncover the economic playbook of the Trump administration and its transformative policies. They dive into the strategic use of tariffs to reshape global trade, the implications of a strong U.S. dollar on the economy, and how tax cuts and deregulation fueled economic growth. Stephen reveals insights on the Federal Reserve’s evolving role, industrial policies targeting national security sectors, and the challenges of reshoring critical industries like rare earth production. Closing with a discussion on inflation, interest rates, and financial innovation, they outline the policies that could define America’s economic future.

📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm.

▶️ Subscribe and turn on notifications for TBL on YouTube.

📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe

🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.

📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer

📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial

🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch

⛓️ ₿lock Height 874317

⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected]

Nik Bhatia's Twitter: https://twitter.com/timevalueofbtc

Creative Director Matthew Ball's Twitter: https://twitter.com/matthewrball

Chapters:

00:00:00 Introduction to Steve: Economist and Treasury Veteran

00:05:20 Impact of U.S. Dollar on Global Trade and Manufacturing  

00:10:42 Impact of Tariffs on US Competitiveness and Revenue  

00:15:56 Currency Fluctuations and Tariffs on China

00:20:48 Economic Strategies: Tax Cuts and Non-Inflationary Growth

00:25:52 The Role of Rare Earths in US-China Relations  

00:30:41 Trump's Economic Strategy: Deregulation and Deflationary Policies

00:35:47 The Impact of Regulations on Market Competition  

00:41:06 Consequences of Short-term Borrowing  

00:46:14 Global Trading System Restructuring

The Bitcoin Layer and its guests do not provide investment advice.