Fed Governor Stephen Miran Resigns From White House Economic Council Role

Miran steps down amid scrutiny over Fed independence and political influence

Feb. 4, 2026 at 5:31am

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Federal Reserve Governor Stephen Miran has resigned from his role as chair of the White House's Council of Economic Advisers, following through on a commitment he made to the U.S. Senate as his tenure at the central bank extended beyond its originally temporary scope. Miran's dual role had sparked criticism from Democratic senators who warned it risked undermining the Fed's independence.

Why it matters

The resignation highlights ongoing concerns about political interference in the traditionally independent Federal Reserve. Miran's policy positions, which have aligned closely with President Trump's calls for lower interest rates, have also drawn scrutiny.

The details

Miran had been on unpaid leave from the Council of Economic Advisers since President Trump appointed him to fill an unexpected vacancy on the Federal Reserve's Board of Governors last year. At his confirmation, Miran told lawmakers he was not required to resign from the council because his Fed service was expected to be temporary. However, he pledged to leave the White House role if his time on the Fed board extended beyond January. With his service now open-ended, Miran is honoring that promise.

  • Miran was appointed to the Federal Reserve Board of Governors in 2025.
  • Miran's initial Fed appointment was set to expire on January 31, 2026.
  • Miran resigned from the White House Council of Economic Advisers on February 4, 2026.

The players

Stephen Miran

Federal Reserve Governor who resigned from his role as chair of the White House's Council of Economic Advisers.

Donald Trump

Former President of the United States who appointed Miran to the Federal Reserve Board of Governors.

Jerome Powell

Current Chair of the Federal Reserve, whose term is set to end in May.

Lisa Cook

Federal Reserve Governor who is suing to block the Trump administration's attempt to remove her from office.

Kevin Warsh

Former Federal Reserve Governor who President Trump has nominated to be the next chair of the Federal Reserve.

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What they’re saying

“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.”

— Stephen Miran

What’s next

The White House has not yet indicated whether Pierre Yared, who is currently serving as acting chair of the Council of Economic Advisers, will be formally nominated to lead the council on a permanent basis. Miran is permitted to remain on the Federal Reserve Board until a successor is confirmed by the Senate, a process that could take months.

The takeaway

Miran's resignation highlights the ongoing tensions between the traditionally independent Federal Reserve and the political pressures exerted by the White House. The move underscores the importance of preserving the Fed's independence and avoiding the appearance of political influence over central bank policymakers.