Federal Reserve Governor Stephen Miran has stepped down as chair of the Council of Economic Advisers (CEA). CNBC confirmed this news. Miran joined the Trump administration’s CEA in January 2025 and has been a member of the Federal Reserve Board of Governors since September 2025. His recent role was to finish the term of former Fed Governor Adriana Kugler, who unexpectedly resigned.
Since taking his Fed position, Miran has advocated for more aggressive interest rate cuts. He has consistently voted against decisions made by the Federal Open Market Committee (FOMC). For instance, he opposed holding rates steady at the last meeting, arguing instead for a quarter-point reduction.
In a recent interview on CNBC’s “Money Movers,” Miran pointed out that his departure leaves a key spot open on the board for Kevin Warsh, who has been nominated as Fed chair by President Trump.
Senator Elizabeth Warren voiced her dissatisfaction on social media, claiming Miran’s exit came “141 days too late.” This reflects ongoing tensions around economic policy and leadership at the Fed.
According to a Gallup survey from earlier this year, public confidence in the Federal Reserve has waned, with only 37% of Americans expressing support for its decisions. This decline highlights the challenges the Fed faces amid economic uncertainty.
Miran’s stance on rates mirrors a broader debate within economic circles about how to balance inflation control with growth. Experts warn that missteps could lead to a recession, as seen in past economic cycles. As the Fed reassesses its strategies, the focus remains on how leadership changes might impact future policies.
For more insights, you can check the official report from the Federal Reserve here.
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