Stephen Miran says he’ll take unpaid leave from White House job while serving as Fed governor
Currently, Stephen Miran, President of the Council of Economic Consultants, testifies on September 4, 2025 in front of Washington, DC in front of the Senate Banking, Housing and Urban Affairs Committee.
Win McNamee | Getty Images News | Getty Images
Stephen Miran will fill the empty seat on the Federal Reserve Board of Directors if approved, and will receive free leave as the President of the Economy Consultant Council in the White House.
At a approval hearing held on Thursday before the Senate Banking Committee, President Donald Trump’s candidate Miran for the role of the Open Fed governor, he said he would not resign his position in the White House while presented the Fed Governor’s period, which ended on January 31, 2026.
Miran’s appointment comes in the midst of the speculation that Trump will try to nominate a “shadow chair” and have a major impact on the central bank and increase the fears about the independence of the Central Bank. Miran can increase these concerns further while assigning the White House as the Governor of the FED.
“The lawyer will follow an unpaid permission from the Council of Economic Consultants, stop my activities and give me otherwise advice and follow the Council’s advice and follow the Council’s advice,” Miran said at the hearing. He said.
“The term I was nominated for is four and a half months. If I were nominated for more than a handful of months and approved, I would definitely resign.”
Trump criticizes the current president Jerome Powell for a long time and prints sharply for lower interest rates. At the hearing, Miran repeatedly promised to maintain the independence of the Central Bank and emphasized that no one in the administration wanted to alleviate the monetary policy.
The Fed’s next policy meeting took place on September 16-17.
