Stephen Miran, one of President Donald Trump’s top economists, has resigned from his leadership position on the White House Council of Economic Advisers (CEA), ending an unusual dual role spanning the executive branch and the US central bank.
Resignation from the Council of Economic Advisers
Miran resigned as CEA chairman on Tuesday, according to a letter obtained by CNN. His departure was first reported by Barron’s and later confirmed by CNBC. The move fulfills a commitment Miran made to lawmakers during his confirmation process and underscores sensitive questions about institutional independence and governance standards in Washington.
In his letter Tuesday, Stephen Miran wrote that he promised senators he would leave the White House if he remained at the Federal Reserve in January.
Unusual overlap between the Fed and the White House
Miran joined the Trump administration’s Council of Economic Advisers in January 2025. In September 2025, he went on unpaid leave from his White House role to become a member of the Board of Governors of the Federal Reserve System—an unusual arrangement that attracted attention on Capitol Hill.
The Senate confirmed him to serve at the US Federal Reserve while maintaining his White House role through unpaid leave, an unusual arrangement. Such overlaps are rare given the Federal Reserve’s emphasis on independence from political institutions.
Filling a vacancy in the Federal Reserve System
When he became Fed governor, Miran took the seat vacated by Biden appointee Adriana Kugler, who resigned last August. However, his tenure at the central bank was short-lived, ending on 31 January when his term ended.
During this period, Miran was considered one of President Donald Trump’s closest economic advisers, with influence spanning fiscal policy discussions at the White House and monetary policy deliberations at the central bank.
