Federal Reserve Board Governor Stephen Miran speaks on “Rules, the Provide Facet, and Financial Coverage” throughout the Delphi Financial Discussion board Lecture occasion, on the Nationwide Gallery in Athens, Greece, January 14, 2026.
Louisa Gouliamaki | Reuters
Federal Reserve Governor Stephen Miran has stepped down from his place as chair of the Council of Financial Advisers, CNBC has confirmed.
Miran joined the Trump administration’s Council of Financial Advisers in January 2025. He had been on go away from this publish since September 2025 — when he turned a member of the Federal Reserve Board of Governors.
Miran was appointed in September to fill the unexpired time period of Biden-appointee former Governor Adriana Kugler, who resigned abruptly in August. On the time, Miran mentioned he anticipated to fill out Kugler’s time period, which expired Jan. 31, then return to his CEA publish.
Since taking the publish on the Fed, Miran has argued for aggressive rate of interest cuts. He has voted “no” at every of the 4 Federal Open Market Committee conferences he has attended. Central financial institution policymakers lower their benchmark charge by a quarter-percentage level at three of these conferences; Miran argued for half-point reductions.
Most just lately, he voted towards policymakers’ resolution to carry charges regular in a spread of three.5% to three.75% on the January assembly. He wished to decrease charges by 1 / 4 level.
In a Friday interview on CNBC’s “Cash Movers,” Miran famous that his seat can be the one emptiness accessible on the board of governors for Kevin Warsh, whom President Donald Trump has nominated as Fed chair.
Barron’s first reported on Miran’s plan to depart the CEA.
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