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Fed's Miran resigns from White House job

BY Reuters | ECONOMIC | 06:03 PM EST

WASHINGTON, Feb 3 (Reuters) - Federal Reserve Governor Stephen Miran resigned on ?Tuesday from ?his position as ?chair of the ?White ?House's Council of Economic ?Advisers, ?a White House spokesman said.

Miran's resignation ?was ?first ?reported by Barron's.

Miran had been on ?leave from his CEA post since President Donald Trump ?appointed ?him last year to ?fill an unexpected vacancy on the Fed's Board of Governors. (Reporting by Trevor ?Hunnicutt and Jasper Ward in Washington; editing ?by Dan Burns)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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