Trump-appointed Federal Reserve Gov. Stephen Miran stepped down as chair of the Council of Economic Advisors (CEA) on Tuesday, the Daily Caller News Foundation has confirmed.
Miran first joined the CEA in January 2025, and later was placed on leave from the role beginning in September 2025 after he officially became a member of the Fed’s Board of Governors following former Fed Gov. Adriana Kugler’s sudden resignation, CNBC reported Tuesday. White House spokesman Kush Desai told the DCNF in a statement on Wednesday that “in accordance with the pledge he made to the Senate during his confirmation to the Federal Reserve’s Board of Governors, Miran has submitted his resignation from the Council of Economic Advisers.”
“Prior to the start of … Stephen’s leave last September, his brilliant insights and powerful advocacy on behalf of the President made him an enormous asset for the White House, and he established himself as a key member of the Trump administration’s economic team,” Desai continued.
Miran wrote in his resignation letter to President Donald Trump on Tuesday that serving as chairman of the CEA had been “the honor of a lifetime,” according to a copy of the letter obtained by the DCNF.
“As you know, the Federal Reserve Act requires that members of the Federal Reserve Board of Governors be devoted full-time to that position,” Miran wrote in the letter. “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.”
“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,” he wrote further, adding it was with a “heavy yet proud heart that I tender my resignation from the Council and the White House.”
Democratic Massachusetts Sen. Elizabeth Warren claimed in an X post on Tuesday night that Miran stepping down from his role as CEA chairman had come “141 days too late.” She added that “once a Donald Trump sock puppet, always a Donald Trump sock puppet.”
Pierre Yared is currently serving as acting chairman of the CEA, according to the White House’s website.
On Friday, Trump announced he was nominating Kevin Warsh, who formerly served as a member of the central bank’s board of governors, to replace current Fed chairman Jerome Powell, whose term is set to conclude in May 2026. Canadian Prime Minister Mark Carney lauded Trump’s decision to nominate Warsh to lead the Fed in an X post on Friday, referring to Warsh as “a fantastic choice.”
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