Fed’s Stephen Miran Resigns from his White House Position, Keeping his Seat at the Fed

Stephen Miran’s path through Washington shifted in early 2025 when he joined the Trump administration as chair of the Council of Economic Advisers before moving months later to the Federal Reserve. Miran joined the CEA in January 2025 but went on leave in September after being appointed to the Federal Reserve Board to fill the unexpired term of former Governor Adriana Kugler, who resigned in August. That term ended on Jan. 31, and Miran had said he would return to the CEA unless his Fed service ran longer. He resigned from the CEA, the White House said, honoring a Senate pledge, after serving at the Fed where he pushed cuts. Miran voted no at four meetings, backed half point cuts, and opposed holding rates at 3.5% to 3.75% in January.