Reviewed by Gotrade Internal Analyst
Gotrade News - Federal Reserve Governor Stephen Miran has officially ditched his role as chair of the White House Council of Economic Advisers. This move ends a controversial double-duty gig that had people questioning the central bank's independence.
His exit paves the way for President Trump's planned overhaul of the Fed's leadership structure. This personnel shuffle could fast-track the aggressive rate-cutting agenda the administration has been pushing for.
Key Takeaways:
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Stephen Miran is leaving the White House to go all-in on his Federal Reserve governor seat.
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This vacancy is the red carpet for Kevin Warsh, Trump's pick to eventually lead the Fed.
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Miran has been a consistent dove, pushing for deeper 0.5% rate cuts in policy meetings.
Miran was appointed in September to fill the remainder of Adriana Kugler’s term, which technically ended on Jan. 31. However, he can hang on to his seat on the board until the Senate officially confirms a replacement.
White House spokesman Kush Desai confirmed the resignation late Tuesday (Feb. 3). According to AP News, Miran had previously taken an unpaid leave of absence rather than fully resigning, a move that broke from historical norms.
The Push for Cheaper Money
Miran has built a reputation as a heavy dove since joining the central bank's board of governors. He has voted "no" at four consecutive committee meetings because he demanded deeper cuts than his colleagues.
Data from CNBC shows Miran pushed for a half-point slash while the rest of the room settled for a quarter-point. This stance aligns with the market's craving for looser liquidity to juice the economy.
The Succession Playbook
Miran’s eventual departure creates the only opening for Kevin Warsh to get his foot in the door at the Fed. Trump has already tapped Warsh to replace current Chair Jerome Powell when his term expires on May 15.
Most observers see Warsh grabbing Miran's seat first as a tactical play before ascending to the big chair. This maneuver is crucial because Powell could leverage a loophole to stay on the board even after his chairmanship ends.
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Reference:
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AP News, Federal Reserve governor Miran steps down from White House post. Diakses pada 4 Februari 2026
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CNBC, Fed’s Stephen Miran resigns from White House post. Diakses pada 4 Februari 2026
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Featured Image: Fortune
