Fed Governor Miran Resigns
Federal Reserve Governor Stephen Miran resigned, effective with or before Kevin Warsh's chairmanship, after consistently dissenting on interest rate decisions.
Atlas Newsdesk ·
Fed Governor Miran Resigns, Supports Warsh Leadership
Federal Reserve Governor Stephen Miran submitted his resignation on Thursday, May 14, 2026, indicating he will depart the central bank's board concurrent with or prior to Kevin Warsh assuming the role of Federal Reserve Chair. Miran, who joined the board in September 2025, served as a dissenting voice on the Federal Open Market Committee (FOMC) during his tenure.
Miran consistently voted against FOMC decisions. In 2025, he opposed three quarter-percentage-point interest rate reductions. In 2026, he voted against three decisions to maintain steady interest rates, advocating instead for quarter-point cuts. His resignation letter expressed confidence in incoming Chair Warsh, who received Senate confirmation on Wednesday, May 13, 2026.
Miran's policy positions included advocating for lower interest rates, a forward-looking monetary policy approach that considers non-monetary forces such as population growth and deregulation, and a reduction in the Federal Reserve's balance sheet. He also supported efforts to lower regulatory barriers for banks.