Miran, set to continue as Federal Reserve governor until Jerome Powell successor is confirmed, to leave CEA post
Federal Reserve governor Stephen Miran has resigned from his position as chair of the White House’s council of economic advisers, fulfilling a pledge he made to the Senate as his assignment at the central bank becomes longer-lasting.
Miran had been on unpaid leave from his CEA post since Donald Trump appointed him last year to fill an unexpected vacancy on the Fed’s board of governors to a term that expired on 31 January. The arrangement drew the ire of Democratic senators, who said it would make a presidential puppet of the Fed’s newest policymaker.
Miran said he had been legally advised there was no need to quit his CEA post as the Fed job was only for a few months.
“I promised the Senate that if I should stay on the board past January, I would formally depart the council,” Miran said in his resignation letter dated Tuesday and reviewed by Reuters. “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.”
