BREAKING: Biden-Appointed Federal Reserve Governor Resigns, Leaving Trump a Vacancy

Biden-appointed Federal Reserve Governor Adriana Kugler announced she will be resigning from her post next Friday, August 8.

Adriana Kugler’s resignation leaves President Trump a vacancy to fill.

“Dr. Kugler, who has served as a governor since September 13, 2023, submitted her letter of resignation to President Trump and will return to Georgetown University as a professor this fall,” the announcement said.

Axios reported:

Federal Reserve governor Adriana Kugler will resign her job next week, the Fed said in an announcement, giving President Trump an early opportunity to appoint a favored candidate for potential leadership of the central bank.

Why it matters: Kugler’s spot was not scheduled to come open until January and there are no other vacancies on the seven-member board.

• Now Trump will have an opportunity to appoint a governor to pressure Chair Jerome Powell — and potentially succeed him — immediately.

Driving the news: Kugler will step down August 8, next Friday, to return to Georgetown University as a professor, according to the statement.

• Kugler did not participate in this week’s Fed policy meeting, with the board citing a personal matter.
• Kugler, a former chief economist at the Labor Department, was appointed by President Biden in 2023.

Pulte said he’s hearing Jerome Powell is next to resign.