WASHINGTON, Feb 3 (Reuters) – Federal Reserve Governor Stephen Miran resigned on Tuesday from his position as chair of the White House’s Council of Economic Advisers, a White House spokesman said.
Miran’s resignation was first reported by Barron’s.
Miran had been on unpaid leave from his CEA post since President Donald Trump appointed him last year to fill an unexpected vacancy on the Fed’s Board of Governors with a term expiring January 31.
“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.”
Though his term as governor is expired, Miran can serve in his current role until a successor is confirmed by the Senate.
Trump on Friday announced plans to nominate former Fed governor Kevin Warsh as the next chair of the central bank, presumably to the Fed Board seat that Miran currently occupies.
(Reporting by Trevor Hunnicutt and Jasper Ward in Washington and Ann Saphir in San Francisco; editing by Dan Burns and Sonali Paul)
