world-economy

Fed Governor Miran to Resign as Warsh Takes Chair

Federal Reserve Governor Stephen Miran announced his resignation effective upon Kevin Warsh's swearing in as the central bank's next chair. The move clears the way for Warsh's leadership team to take full control of the Board of Governors. Jerome Powell has been named temporary chair pro tempore until Warsh's official transition. Miran served as a contrarian voice on the rate-setting Federal Open Market Committee. He intends to step down either when Warsh assumes office or shortly before. The governor reflected on his tenure at the Fed, discussing his views on inflation dynamics tied to supply chain disruptions and the central bank's coordination with Treasury and White House officials. His departure marks the start of a leadership transition at the nation's central bank.