By Ginika Igboke
Federal Reserve Governor Stephen Miran has resigned as chair of the White House’s Council of Economic Advisers, a White House spokesperson confirmed on Feb. 3.
Miran was confirmed as CEA chair in March 2025 by a 53–46 Senate vote. He took unpaid leave from the role in September 2025 after President Donald Trump appointed him to fill the unexpired term of former Federal Reserve Governor Adriana Kugler, who stepped down in August 2025.
Although Miran’s term on the Federal Reserve Board formally ended on Jan. 31, he continues to serve in a holdover capacity and may remain in the position until the Senate confirms a successor.
White House spokesman Kush Desai said in a statement that Miran’s resignation from the CEA fulfills a commitment he made during his confirmation process for the Fed post. Miran had pledged to step down from the White House role if he remained on the Federal Reserve Board beyond the end of his term.
Desai praised Miran’s tenure at the CEA, saying his “brilliant insights and powerful advocacy on behalf of the President made him an enormous asset for the White House,” and called him a key member of the Trump administration’s economic team.
Miran’s departure from the CEA comes as some Democratic members of the Senate Banking, Housing, and Urban Affairs Committee have called on him to resign from the Federal Reserve as well. In a Feb. 2 letter, the lawmakers argued that Miran’s continued service on the Fed compromised the institution’s independence from the White House, citing his voting record and public comments that they said aligned with Trump’s immigration and trade policies.
“You are serving in holdover status and have implied an intention to stay indefinitely,” the letter stated. “Your extended tenure at the Federal Reserve has only compounded what was an improper arrangement from the outset, and this dual employment must end.”
Before joining the administration, Miran worked as a senior strategist at Hudson Bay Capital Management and as a senior fellow at the Manhattan Institute for Policy Research. He also served as a senior adviser at the Treasury Department during Trump’s first term.
Meanwhile, Trump announced last week that he is nominating former Federal Reserve Governor Kevin Warsh to serve as the next chair of the U.S. central bank.
“I have known Kevin for a long period of time, and have no doubt that he will go down as one of the great Fed chairmen, maybe the best,” Trump wrote on social media. “On top of everything else, he is ‘central casting,’ and he will never let you down.”
Warsh previously served as special assistant to the president for economic policy during the George W. Bush administration from 2002 to 2006 and was executive secretary of the National Economic Council. He was also a leading contender for the Fed chairmanship during Trump’s first term, before the president ultimately selected Jerome Powell.
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