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4h ago

Fed Governor Stephen Miran Resigns as White House CEA Chair

He said he stepped down to honor a pledge to devote full time to his Federal Reserve role under the central bank’s governing law.

Stephen Miran, governor of the US Federal Reserve, during a Bloomberg Television interview in New York, on December 22, 2025.
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Overview

  • The White House confirmed Miran’s resignation on Tuesday, and reporting indicates he could remain at the Council until a successor is named.
  • In his letter to President Trump, Miran cited the Federal Reserve Act’s full‑time requirement and a promise to senators to resign if he stayed on the Board beyond January.
  • He had been on unpaid leave from the Council since September 2025 after being appointed to fill former Governor Adriana Kugler’s unexpired Fed term.
  • Remaining on the Board, Miran has dissented at four FOMC meetings in favor of larger rate cuts, including seeking a cut when policymakers held rates steady in January.
  • The move unfolds as the administration pursues changes at the central bank, with Trump nominating Kevin Warsh to succeed Jerome Powell as chair during heightened scrutiny of Powell.