03:01 PM EDT, 05/14/2026 (MT Newswires) -- Federal Reserve Governor Stephen Miran said Thursday that he will resign from the Fed before or shortly before Kevin Warsh is sworn in as a governor and Fed Chair.

Miran was filling a term that expired on Jan. 31, 2026, when he said that he would remain in the position until a successor was appointed.

Miran wrote in his resignation letter to US President Donald Trump: "I hereby tender my resignation from my seat on the Board of Governors of the Federal Reserve System, effective upon or shortly before the swearing in of Kevin Warsh." He added that serving on the board, together with previously serving as chairman of the Council of Economic Advisers, "has been the highest honor of my life."

Miran's announcement follows the confirmation of Warsh this week to replace Jerome Powell as Fed Chair and as a Fed Governor.

Powell has said he will remain on the board as a governor for an uncertain period of time, so Warsh and Miran could not both remain on the board without exceeding the maximum size.