Federal Reserve Governor Adriana Kugler will resign from the central bank’s board next week, the Fed announced Friday.
“It has been an honor of a lifetime to serve on the Board of Governors of the Federal Reserve System,” Kugler said in a statement. “I am especially honored to have served during a critical time in achieving our dual mandate of bringing down prices and keeping a strong and resilient labor market.”
Kugler’s resignation is effective August 8. She joined the Board in September 2023 and had been serving a term set to expire in January 2026. She will return to Georgetown University, where she previously held faculty and administrative roles.
Fed Chair Jerome Powell said Kugler “brought impressive experience and academic insights to her work on the Board.”
The resignation comes hours after the Department of Labor released a report indicating that the labor market was much weaker than previously thought. On Wednesday, Fed chairman Jerome Powell had described the labor market as “solid” and led the Fed’s decision to hold interest rates steady. Kugler voted with Powell while two of her colleagues, Governor Christoper Waller and Vice Chair Michlle Bowman, dissented, arguing that the Fed should have cut rates.
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