Stephen Miran resigned from the Federal Reserve Board after eight months, creating a vacancy for Chairman-designate Kevin Warsh.
Miran, former Council of Economic Advisers chair, served under a holdover provision since his term expired Jan 31 2026.
He worked with Vice Chairwoman Michelle Bowman to roll back banking regulations, freeing over $100 billion of capital for banks.
Miran’s resignation letter cited plans to reduce the Fed’s balance sheet and highlighted concerns over AI measurement errors, deregulation and immigration impacts.