Federal Reserve Governor Stephen Miran today submitted his resignation as a member of the Fed board, effective when his successor is sworn in. He will be succeeded by incoming Chairman Kevin Warsh.
Miran was previously chair of the Council of Economic Advisers. President Trump nominated Miran last year to fill a board seat previously held by former Fed Governor Adriana Kugler, who stepped down. Miran will serve out the remainder of Kugler’s term, which ends early this year.
The Senate this week confirmed Warsh as both a member of the Fed board and chairman. Current Fed Chairman Jerome Powell ends his term as chairman on Friday but will remain on the board.
