Biden-appointed Federal Reserve Governor Adriana Kugler announced that she will leave her position on August 9.
“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 of Kugler’s forthcoming departure read.
Kugler’s resignation comes as President Trump has pushed for lowering interest rates. Filling the vacancy will allow the president to further pursue his agenda.
“It has been an honor of a lifetime to serve on the Board of Governors of the Federal Reserve System,” Kugler said. “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 term was set to expire at the end of January 2026.
“I appreciate Dr. Kugler’s service on the Board and wish her very well in her future endeavors,” said Federal Reserve Board Chair Jerome Powell. “She brought impressive experience and academic insights to her work on the Board.”
Trump has called for Powell to resign, accusing him of misleading Congress during recent testimony. Powell has since been criminally referred to the DOJ by Rep. Anna Paulina Luna (R-FL).
This week, the Federal Reserve voted to keep its benchmark interest rate unchanged at 4.25% to 4.50%, marking the fifth consecutive meeting without a change. Powell argued that the move was necessary to maintain pressure on inflation, which remains above the central bank’s 2% target.
