Fed Governor resigns as White House Council chairman

Federal Reserve Governor Stephen Miran has resigned from his position as chairman of the White House’s Council of Economic Advisers (CEA).

Miran announced his resignation via a letter dated Tuesday, February 3, 2026.

With his resignation, Miran fulfilled a pledge he made to the Senate as his assignment at the central bank becomes longer-lasting.

Miran had been on unpaid leave from his CEA post since President Donald Trump appointed him in 2025 to fill an unexpected vacancy on the Fed’s Board of Governors to a term that expired January 31.

The arrangement drew the ire of Democratic Senators who said it would make a presidential puppet of the Fed’s newest policymaker.

Miran said he had been legally advised there was no need to quit his CEA post as the Fed job was only for a few months.

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He stated: “I promised the Senate that if I should stay on the Board past January, I would formally depart the Council.

“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.”

Trump on Friday announced plans to nominate former Fed Governor Kevin Warsh as the next chair of the central bank to succeed Jerome Powell, according to Reuters.

While this would fill the Fed Board seat currently occupied by Miran, the law allows him to serve until a successor is confirmed by the Senate.

The White House had no immediate comment on whether Pierre Yared, now the CEA’s acting chair, would be named to the top post permanently.

The Star