Federal Reserve Governor Stephen Miran has submitted his resignation, signaling his support for Kevin Warsh as the incoming chair.
Miran, known for his contrarian stance on the rate-setting Federal Open Market Committee, will step down when or just before Warsh assumes the chairmanship.
The move comes amid ongoing debates over the central bank's policy direction.
Miran's departure could influence the composition of the FOMC, potentially shifting the balance of views on interest rates and inflation management.
Warsh's confirmation as the next Fed chair has been a focal point for markets, with investors closely watching how his leadership might shape monetary policy.
Miran's resignation adds another layer of uncertainty as the transition unfolds.