Fed Governor Miran submits resignation, throws support behind Warsh as new chair
Summary
Miran served as a contrarian voice on the rate-setting Federal Open Market Committee.
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The House Financial Services Committee is taking up a bill that would amend the Federal Reserve Act to eliminate the dual mandate and focus only on price stability.
— Nick Timiraos (@NickTimiraos) May 13, 2026
It's worth asking if the Fed would have cut interest rates last year if this had been the law. https://t.co/LXAFfFKiLx
The text of the bill: Section 2A of the Federal Reserve Act (12 U.S.C. 225a) is amended by striking “maximum employment, stable prices,” and inserting “stable prices”.
— Nick Timiraos (@NickTimiraos) May 13, 2026
That is all. https://t.co/W7mBXosnEu
Kevin Warsh has his work cut out 😂 https://t.co/0FK08WNfT5
— Peter St Onge, Ph.D. (@profstonge) May 13, 2026
WATCH: @RepStutzman in support of H.R. 5396:
— Financial Services GOP (@FinancialCmte) May 13, 2026
“Many forget that the original Federal Reserve Act of 1913 did not have a dual mandate. No price stability goal, no maximum employment goal, just a goal to maintain elastic currency. People also forget that the Senate originally had… pic.twitter.com/9QEXw95IAH