[1] Michl is an admirer of Alois Rašín,[2] a key figure in the establishment of Czechoslovakia's economic policy and independent currency, and the first Czechoslovak Minister of Finance.

[4] Additionally, from 2014 to 2018, he served as an external economic advisor to the Czech Ministry of Finance, focusing on macroeconomic analysis and government debt stabilisation.

When Michl took office, inflation in the Czech Republic stood at a staggering 17.5%, peaking at 18% a few months later[6] - the highest rate since the transition to a market economy in the 1990s.

[15][12] Additionally, under his leadership, the CNB reduced its workforce in 2023 for the first time in ten years, as Michl inherited an institution facing record operational expenditure growth.

In response, a comprehensive rationalisation effort was undertaken in 2023, which included reducing the top management team from seventeen to fourteen directors and decreasing the total number of positions by 5.1% - the first such large-scale reduction in a decade.

[17] In January 2025, during a meeting of the bank's board, he commissioned an analysis to assess the feasibility of investing foreign exchange reserves into additional asset classes.

[19] In response, European Central Bank President Christine Lagarde expressed her opposition to the idea of purchasing Bitcoin for reserves.