Federal Reserve Governor Stephen Miran stepped down from his role as chairman of the Council of Economic Advisers (CEA) on Tuesday, following through on a commitment to the Senate to devote himself fully to his role in Federal Reserve.

president donald trump tapped Miran on Aug. 7 to fill the Federal Reserve seat vacated by Gov. Adriana Kugler, who abruptly resigned to return to academia. Miran was slated to serve out the remainder of Kugler’s term, which ended Jan. 31, 2026, but may remain in the position until a successor is named. He has been on leave from his CEA position.

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Stephen Miran, chairman of the Council of Economic Advisers, after a television interview outside the White House in Washington, DC, US, Tuesday, June 17, 2025. (Aaron Schwartz/Sipa/Bloomberg via Getty Images/Getty Images)

“As you know, the Federal Reserve Act requires members of the Board of Governors of the Federal Reserve to be dedicated full-time to this position. Although I took an unpaid leave of absence from the Board to come to the Federal Reserve, I promised the Senate that if I remained on the Board last January, I would formally leave the Board,” Miran wrote in his resignation letter to President Donald Trump.

“I believe it is important to stay true to my word as I continue to do the job at the Federal Reserve that you and the Senate appointed me to,” he wrote, adding that it was with a “heavy but proud heart that I tendered my resignation to the Board and the White House.”

The White House confirmed the resignation in a statement to FOX Business.

“Consistent with the promise he made to the Senate during his confirmation to the Board of Governors of the Federal Reserve, Stephen Miran has tendered his resignation from the Council of Economic Advisers,” White House spokesman Kush Desai said in a statement to FOX Business.

Desai praised Miran’s tenure, saying that before the start of his leave last September, Miran’s “brilliant ideas and powerful advocacy on behalf of the president made him a tremendous asset to the White House,” adding that he became “a key member of the Trump administration’s economic team.”

Stephen Miran, chairman of the Council of Economic Advisers and nominee for governor of the United States Federal Reserve for President Donald Trump, is sworn in during a confirmation hearing of the Senate Banking, Housing and Urban Affairs Committee in Washington, DC, on Th (Daniel Heuer/Bloomberg/Getty Images/Getty Images)

Miran’s resignation comes as Trump continues to reshape the Federal Reserve. On Friday, the president nominated Kevin Warsh to succeed Federal Reserve Chairman Jerome Powell amid a criminal investigation.

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On January 11, Powell confirmed that the Department of Justice had opened a criminal investigation into his testimony to Congress related to the renovation of the two main historic central bank buildings on the National Mall in Washington, DC.

Warsh’s ascension to the world’s most powerful central bank could be delayed by Republican opposition linked to a criminal investigation of Powell. Sen. Thom Tillis RN.C. has previously said it will oppose the confirmation of any nominee to the Fed board until the Trump administration concludes its investigation. Tillis’ resistance carries particular weight given his seat on the Senate Banking Committee.

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Former US Federal Reserve Governor Kevin Warsh walks to lunch during the Allen & Co. Media and Technology Conference. in Sun Valley, Idaho, USA on Wednesday, July 9, 2025. (David Paul Morris/Bloomberg via Getty Images/Getty Images)

With Tillis holding on Nomination of Warshthe only way to force it out of the Senate Banking Committee would be through a Senate discharge vote, a move that requires 60 votes and is unlikely in a deeply divided Senate, especially amid tensions over the Powell investigation.

On Monday, Trump told reporters at the White House that his administration would continue its criminal investigation, adding that he suspected “gross incompetence” or “some kind of theft.”