![\"Fed](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/01\/Stephen_Miran_is_sworn_in_September_2025-public-domain.jpg\")
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Miran is sworn in as governor on September 16, 2025. Credit: Public Domain<\/p>\n
Fed Governor Stephen Miran praised Greece<\/a>\u2019s economic resurgence on Wednesday, citing the nation\u2019s aggressive deregulation as a global model for sustainable growth.<\/p>\n Speaking at an economic forum in Athens on January 14, 2026\u2014following opening remarks by Kimberly Guilfoyle, Ambassador of the United States to Greece\u2014 Miran, who also serves as Chairman of the White House Council of Economic Advisers (on leave), argued that Greece\u2019s turnaround from the 2009 debt crisis was not merely a result of fiscal discipline but a direct consequence of \u201calleviating suffocating overregulation.\u201d<\/p>\n Fed Governor praises Greece\u2019s \u201cpainful\u201d path to stability<\/p>\n Miran<\/a> emphasized that the Greek recovery required a fundamental restructuring of the state\u2019s relationship with the private sector.<\/p>\n \u201cGreece\u2019s recovery from the crisis that began in 2009 was only possible after the Greek people implemented substantial and painful reforms,\u201d Miran stated. He noted that by \u201cliberalizing product and service markets\u201d and \u201copening previously restricted professions,\u201d the Greek government successfully removed barriers that had long stifled domestic and international competition.<\/p>\n The Fed Governor specifically pointed to the privatization of key infrastructure, including airports<\/a> and ports, and the liberalization of utility sectors as turning points. \u201cWhile it is challenging to quantify how these deregulatory actions have affected the economy,\u201d he admitted, \u201cthere is little doubt that these reforms have supported a remarkable return to economic growth<\/a> and higher living standards.\u201d<\/p>\n Deregulation in Greece and monetary policy<\/p>\n A key theme of Miran\u2019s address was the nexus between national regulation and the effectiveness of central bank policy. Although Greece is part of the Eurozone, Miran argued that its internal reforms have fundamentally improved how it interacts with the European Central Bank (ECB).<\/p>\n \u201cBy easing the ability of supply to respond to prices, these reforms have improved the transmission of monetary policy,\u201d Miran explained. He highlighted the dramatic narrowing of Greek borrowing rates, noting that the spread between Greek and German long-term bonds has plummeted from 6% a decade ago to below 1% today.<\/p>\n A global message<\/p>\n Miran\u2019s remarks in Athens carry significant weight in Washington, where he is viewed as a close associate of the US President and a primary advocate for \u201csupply-side\u201d economic theories. His defense of deregulation comes as the US administration pursues similar policies, including a \u201cone-in-ten-out\u201d regulatory revocation mandate.<\/p>\n