Fortune, "Fed Governor Stephen Miran to resign after Kevin Warsh is sworn in" (May 14, 2026)

Summary

In this May 14, 2026 Bloomberg report carried by Fortune, Federal Reserve Governor Stephen Miran said he will resign from the central bank effective once incoming Chair Kevin Warsh is sworn into office, or shortly before. The article says the move was expected because Miran's seat on the Fed's Board of Governors will be taken by Warsh. In a letter announcing the resignation, Miran was critical of the Fed's approach to measuring inflation. The article says Miran joined the Fed in September, initially took unpaid leave from a White House job, resigned that post in February, and voted for interest-rate cuts in every policy meeting. It adds that the Senate on Wednesday narrowly confirmed Warsh as chair.

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Banking Kevin Warsh

Fed Governor Stephen Miran to resign after Kevin Warsh is sworn in

By

Bloomberg

Bloomberg and

Enda Curran

Enda Curran

By

Bloomberg

Bloomberg and

Enda Curran

Enda Curran

May 14, 2026, 3:54 PM ET

Fed Governor Stephen Miran is resigning after Kevin Warsh will step in as Fed Chair. Aaron Schwartz/Bloomberg via Getty Images

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Federal Reserve Governor Stephen Miran said he will resign from the central bank effective once incoming Chair Kevin Warsh is sworn into office, or shortly before.

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The move by Miran was expected given his seat on the Fed’s Board of Governors will be taken by Warsh.

In a letter announcing his resignation, Miran was critical of the Fed’s approach to measuring inflation and said if the central bank “doesn’t adjust for these errors, it will run unemployment higher than it has to, fighting fake rather than real inflation.”

Miran also said he’s excited about the changes that Warsh plans to make at the Fed, including a shake-up of its communications and balance sheet policies.

Miran, who joined the Fed in September, initially took unpaid leave from his White House job when joining the central bank, before resigning from that post in February. A noted dove, Miran voted for interest-rate cuts in every policy meeting during his period as a policymaker, including dissenting votes urging the central bank to cut by more than fellow officials agreed.

Read More: Senate Confirms Kevin Warsh to Lead Fed in Narrowest-Ever Vote

The Senate on Wednesday narrowly confirmed Kevin Warsh as chair of the Fed, clearing the way for his swearing soon after outgoing Chair Jerome Powell’s term ends on Friday.

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