Stephen Miran
Chair of the Council of Economic Advisers and, from 2025, a Federal Reserve governor.
Role in each timeline
- The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings
Trump's former Council of Economic Advisers chair, appointed as a Fed governor in September 2025; he repeatedly dissented for larger or earlier rate cuts.
Entries that mention Stephen Miran
- Four dissents at Powell's last full meeting as chair: one for a cut, three against the easing bias Announcementon The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings
- Hold at 3.5 to 3.75 percent as Middle East developments cloud the outlook; Miran the lone dissent Announcementon The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings
- First hold of 2026 at 3.5 to 3.75 percent; Miran and Waller dissent for a cut Announcementon The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings
- Third cut of the year to 3.5 to 3.75 percent, over three dissents Announcementon The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings
- Second cut to 3.75 to 4 percent; balance-sheet runoff to end December 1; dissents in both directions Announcementon The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings
- First cut of 2025: a quarter point to 4 to 4.25 percent, citing downside risks to employment Announcementon The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings
- Stephen Miran sworn in as governor the day before the meeting, on leave from the White House Announcementon The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings