Key takeout
- Governor Adriana Kugler will resign on August 8th to rejoin Georgetown University.
- Her departure opens a board vacancies that must be filled by a new appointment from President Trump.
Federal Reserve Governor Adriana Coogler will depart the Governor on Friday, August 8th to return to his faculty position at Georgetown University. The central bank said in a press release Friday.
Kugler, who has served as governor since September 13, 2023, has submitted a letter of resignation to President Trump. During her tenure, she served on several committees, including the Financial Stability Committee, the Federal Reserve Bank Issues Committee, the Board of Directors Committee, and the Subcommittee on Small Regional and Community Banking.
“It was a lifelong honor to serve the Federal Reserve Board,” Kugler said. “I am particularly honored to serve at a critical time in achieving the dual mission of lowering prices and maintaining a strong and resilient labour market.”
Coogler’s resignation comes at a time of tension. Trump has pressured the Fed to cut interest rates and continues to publicly attack Chairman Jerome Powell.
The vacancy gives Trump the opportunity to nominate an influential Central Bank Commission alternative less than two years after Coogler was appointed by the previous administration.
In a statement today, Trump criticized Fed Chairman Jerome Powell and called him stubbornly demanding immediate interest rate cuts. The president suggested that if Powell refuses to act, the board should take control.
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