On February 27, President Donald Trump's nominee for the chair of his Council of Economic Advisors, Stephen Miran, expressed his belief during a Senate Banking Committee nomination hearing that deregulation could help reduce inflation. Miran stated that "removing barriers to the abilities of firms to produce will get them to produce more; more stuff, lower prices." He also indicated his backing for tax cuts, tariffs, and other key policies at the forefront of Trump's economic agenda.