Fed Governor Stephen Miran Steps Down from White House Role to Prioritize Federal Reserve Responsibilities
Federal Reserve Governor Stephen Miran discusses the direction of economic policy after President Donald Trump tapped Kevin Warsh to lead the Federal Reserve on ‘Mornings with Maria.’
On Tuesday, Federal Reserve Governor Stephen Miran officially resigned from his position as chair of the Council of Economic Advisers (CEA). This decision aligns with his commitment to the Senate, allowing him to focus entirely on his role at the Federal Reserve.
President Donald Trump appointed Miran on August 7 to fill the Federal Reserve seat left vacant by Governor Adriana Kugler, who resigned unexpectedly to return to academia. Miran is expected to serve the remainder of Kugler’s term, which concludes on January 31, 2026, although he may continue in this role until a successor is appointed. He has been on leave from his CEA position.
TRUMP NAMES MIRAN AS REPLACEMENT FOR FED BOARD SEAT
Stephen Miran, chairman of the Council of Economic Advisers, following a television interview outside the White House in Washington, D.C., US, on Tuesday, June 17, 2025. (Aaron Schwartz/Sipa/Bloomberg via Getty Images / Getty Images)
In his resignation letter to President Trump, Miran emphasized the importance of his commitment to the Federal Reserve. “As you know, the Federal Reserve Act requires that members of the Federal Reserve Board of Governors be devoted full-time to that position. While I took an unpaid leave of absence from the Council to come to the Federal Reserve, I promised the Senate that if I should stay on the Board past January, I would formally depart the Council,” he stated.
He expressed his dedication to fulfilling his responsibilities at the Federal Reserve, saying, “I believe it is important to stay true to my word while I continue to perform the job at the Federal Reserve to which you and the Senate appointed me.” Miran added that it was with a “heavy yet proud heart” that he submitted his resignation from the Council and the White House.
The White House confirmed Miran’s resignation in a statement to FOX Business. Spokesman Kush Desai remarked, “In accordance with the pledge he made to the Senate during his confirmation to the Federal Reserve’s Board of Governors, Stephen Miran has submitted his resignation from the Council of Economic Advisers.” Desai praised Miran’s contributions, noting that his “brilliant insights and powerful advocacy on behalf of the President made him an enormous asset for the White House,” and highlighted his role as a key member of the Trump administration’s economic team.
Stephen Miran, chairman of the Council of Economic Advisers and U.S. Federal Reserve governor nominee for President Donald Trump, is sworn in during a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing in Washington, D.C, on Th (Daniel Heuer/Bloomberg/Getty Images / Getty Images)
Miran’s resignation occurs amid President Trump’s ongoing efforts to reshape the Federal Reserve. Recently, Trump nominated Kevin Warsh to succeed Federal Reserve Chair Jerome Powell, who is currently under investigation.
TRUMP NOMINATES KEVIN WARSH TO SUCCEED JEROME POWELL AS FEDERAL RESERVE CHAIR
On January 11, Powell confirmed that the Justice Department had initiated a criminal investigation into his congressional testimony regarding the renovation of the Federal Reserve’s two historic buildings on Washington, D.C.’s National Mall.
Warsh’s potential appointment could face delays due to Republican opposition stemming from the ongoing investigation into Powell. Senator Thom Tillis (R-N.C.) has previously stated he will oppose the confirmation of any Fed board nominee until the Trump administration concludes its investigation. Given his position on the Senate Banking Committee, Tillis’s resistance carries significant weight.
CLICK HERE TO GET FOX BUSINESS ON THE GO
Kevin Warsh, former governor of the US Federal Reserve, walks to lunch during the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, US, on Wednesday, July 9, 2025. (David Paul Morris/Bloomberg via Getty Images / Getty Images)
With Tillis placing a hold on Warsh’s nomination, the only way to advance it out of the Senate Banking Committee would be through a discharge vote on the Senate floor. This process requires 60 votes, a challenging feat in a deeply divided Senate, especially amid the ongoing tensions surrounding the investigation into Powell.
On Monday, Trump addressed reporters at the White House, reaffirming his administration’s commitment to the criminal probe, expressing concerns about “gross incompetence” or “theft of some kind.”
Federal Reserve Governor Stephen Miran discusses the direction of economic policy after President Donald Trump tapped Kevin Warsh to lead the Federal Reserve on ‘Mornings with Maria.’
On Tuesday, Federal Reserve Governor Stephen Miran officially resigned from his position as chair of the Council of Economic Advisers (CEA). This decision aligns with his commitment to the Senate, allowing him to focus entirely on his role at the Federal Reserve.
President Donald Trump appointed Miran on August 7 to fill the Federal Reserve seat left vacant by Governor Adriana Kugler, who resigned unexpectedly to return to academia. Miran is expected to serve the remainder of Kugler’s term, which concludes on January 31, 2026, although he may continue in this role until a successor is appointed. He has been on leave from his CEA position.
TRUMP NAMES MIRAN AS REPLACEMENT FOR FED BOARD SEAT
Stephen Miran, chairman of the Council of Economic Advisers, following a television interview outside the White House in Washington, D.C., US, on Tuesday, June 17, 2025. (Aaron Schwartz/Sipa/Bloomberg via Getty Images / Getty Images)
In his resignation letter to President Trump, Miran emphasized the importance of his commitment to the Federal Reserve. “As you know, the Federal Reserve Act requires that members of the Federal Reserve Board of Governors be devoted full-time to that position. While I took an unpaid leave of absence from the Council to come to the Federal Reserve, I promised the Senate that if I should stay on the Board past January, I would formally depart the Council,” he stated.
He expressed his dedication to fulfilling his responsibilities at the Federal Reserve, saying, “I believe it is important to stay true to my word while I continue to perform the job at the Federal Reserve to which you and the Senate appointed me.” Miran added that it was with a “heavy yet proud heart” that he submitted his resignation from the Council and the White House.
The White House confirmed Miran’s resignation in a statement to FOX Business. Spokesman Kush Desai remarked, “In accordance with the pledge he made to the Senate during his confirmation to the Federal Reserve’s Board of Governors, Stephen Miran has submitted his resignation from the Council of Economic Advisers.” Desai praised Miran’s contributions, noting that his “brilliant insights and powerful advocacy on behalf of the President made him an enormous asset for the White House,” and highlighted his role as a key member of the Trump administration’s economic team.
Stephen Miran, chairman of the Council of Economic Advisers and U.S. Federal Reserve governor nominee for President Donald Trump, is sworn in during a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing in Washington, D.C, on Th (Daniel Heuer/Bloomberg/Getty Images / Getty Images)
Miran’s resignation occurs amid President Trump’s ongoing efforts to reshape the Federal Reserve. Recently, Trump nominated Kevin Warsh to succeed Federal Reserve Chair Jerome Powell, who is currently under investigation.
TRUMP NOMINATES KEVIN WARSH TO SUCCEED JEROME POWELL AS FEDERAL RESERVE CHAIR
On January 11, Powell confirmed that the Justice Department had initiated a criminal investigation into his congressional testimony regarding the renovation of the Federal Reserve’s two historic buildings on Washington, D.C.’s National Mall.
Warsh’s potential appointment could face delays due to Republican opposition stemming from the ongoing investigation into Powell. Senator Thom Tillis (R-N.C.) has previously stated he will oppose the confirmation of any Fed board nominee until the Trump administration concludes its investigation. Given his position on the Senate Banking Committee, Tillis’s resistance carries significant weight.
CLICK HERE TO GET FOX BUSINESS ON THE GO
Kevin Warsh, former governor of the US Federal Reserve, walks to lunch during the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, US, on Wednesday, July 9, 2025. (David Paul Morris/Bloomberg via Getty Images / Getty Images)
With Tillis placing a hold on Warsh’s nomination, the only way to advance it out of the Senate Banking Committee would be through a discharge vote on the Senate floor. This process requires 60 votes, a challenging feat in a deeply divided Senate, especially amid the ongoing tensions surrounding the investigation into Powell.
On Monday, Trump addressed reporters at the White House, reaffirming his administration’s commitment to the criminal probe, expressing concerns about “gross incompetence” or “theft of some kind.”
