Stephen Miran Leaves Trump Team: Stephen Miran, a senior economic official in the U.S., has formally resigned from his position as the head of the Council of Economic Advisers, reports. This resignation is the latest development in the economic team in Washington and may influence future events at the Fed.
Miran had been balancing two powerful roles — one inside the White House and one at the nation’s central bank. That balancing act is now over.
From White House Adviser to Federal Reserve Power Player
Miran joined the Trump administration’s Council of Economic Advisers, or CEA, in January 2025. The CEA helps the president understand the economy and gives advice on things like jobs, inflation, and growth.
In September 2025, Miran took on a new role as a member of the Federal Reserve Board of Governors. That meant he had to step away from daily White House duties and go on leave from the CEA.
He was brought into the Federal Reserve to replace Adriana Kugler, a Fed governor appointed by President Joe Biden who resigned suddenly in August. At the time, Miran told lawmakers he planned to serve only until the end of Kugler’s term on January 31. After that, he expected to return to his White House job.
But things didn’t go as planned.
Miran made a promise to the Senate during his confirmation. If his Fed role lasted longer than Kugler’s term, he would resign from the CEA. Since his time at the Fed continued past January, he followed through on that pledge.
The White House confirmed his resignation on Friday.
A Fed Governor Who Keeps Pushing for Lower Rates
Since joining the Federal Reserve, Miran has made his views very clear. He believes interest rates should come down faster and more aggressively.
Interest rates matter because they affect how expensive it is to borrow money. Lower rates can help people buy homes, businesses invest, and the economy grow. Higher rates can slow things down.
Miran has voted “no” at every Federal Open Market Committee meeting he has attended so far. Out of four meetings, the Fed cut rates by a quarter of a percentage point at three. Miran wanted bigger cuts — half a percentage point each time.
At the most recent meeting in January, Fed officials decided to keep rates steady between 3.5% and 3.75%. Miran again disagreed. He argued that rates should be lowered by another quarter point.
His strong stance has made him one of the most outspoken voices on the Fed board.
What His Exit Could Mean for Trump and the Fed
Miran’s departure from the CEA creates new questions about the future of U.S. economic leadership.
President Donald Trump has not yet named a replacement for Miran’s White House role. However, Trump said last week that he plans to nominate former Fed Governor Kevin Warsh to eventually become chair of the Federal Reserve.
In a recent interview, Miran pointed out that his seat is currently the only open spot on the Fed’s Board of Governors. That could make it easier for Trump to move quickly with his plans.
Not everyone is unhappy to see Miran leave the White House. Senator Elizabeth Warren of Massachusetts wrote on social media that his resignation came “141 days too late,” signaling sharp political disagreement over his role and views.
The White House, however, praised Miran’s work. Spokesman Kush Desai said Miran was a “brilliant” adviser who played a key role in shaping the administration’s economic policies.
Now, Miran’s full focus will be on the Federal Reserve — and on pushing for lower interest rates.
News in Brief : Stephen Miran Leaves Trump Team
Stephen Miran has resigned as head of the White House Council of Economic Advisers after continuing his role as a Federal Reserve governor beyond a promised deadline. Miran joined the Trump administration in early 2025 and later moved to the Fed, replacing a Biden-appointed governor. He pledged to step down from the CEA if his Fed term extended past January, which he has now done. At the Fed, Miran has emerged as a strong advocate for faster and deeper interest rate cuts, frequently dissenting from committee decisions. His exit reshapes the administration’s economic team and could affect future Fed leadership plans.
Do you think Stephen Miran’s push for faster rate cuts is good for the economy, or does it carry risks? Share your thoughts in the comments below.
About Federal Reserve
The Federal Reserve is the central bank of the United States, created in 1913 to prevent financial crises after repeated banking panics. Although established by Congress, it operates independently in setting monetary policy. Its main goals are maximizing employment, stabilizing prices, and managing long-term interest rates. Over time, its role has expanded to supervising banks, maintaining financial stability, and supporting the U.S. government and financial institutions. The Fed is led by a Board of Governors, 12 regional banks, and the Federal Open Market Committee, which sets interest rates. While highly influential, the Fed has faced criticism over inflation, transparency, and its role in economic crises.
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