Stephen Miran Resigns from Federal Reserve Board; Kevin Warsh Confirmed as New Chair
Stephen Miran resigns from the Federal Reserve Board as Kevin Warsh is confirmed by the Senate to succeed Jerome Powell as Chair.
Federal Reserve Governor Stephen Miran has submitted his resignation, effective upon the swearing-in of his successor. Miran, who joined the Board in September 2025, previously served as chairman of the Council of Economic Advisers under President Donald Trump.
The U.S. Senate has confirmed Kevin Warsh as the new Chair of the Federal Reserve, succeeding Jerome Powell. Warsh, 56, previously served as a Fed governor from 2006 to 2011.
Warsh's confirmation comes amid ongoing inflation concerns, with the Consumer Price Index up 3.8% year-over-year, driven largely by energy costs from the ongoing war in Iran.
As Warsh assumes leadership, he faces the challenge of balancing monetary policy to address inflation while considering pressures for lower interest rates to spur economic growth.