MNI BRIEF: Kugler To Resign Early From Federal Reserve

Federal Reserve Governor Adriana Kugler submitted her resignation to President Donald Trump on Friday and will step down from her position as a governor effective August 8, according to a Fed statement, giving the administration an opening to fill on the central bank's board. 

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. Kugler did not attend the FOMC meeting this week "due to a personal matter" and her term was originally slated to end January 31, 2026. A statement from the Fed does not say why the central bank governor is leaving early. 

“It has been an honor of a lifetime to serve on the Board of Governors of the Federal Reserve System,” said Kugler. “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.”

Jerome Powell's position as chair is the next to come to an end in May. His seat as governor continues through January 2028. As recently as this week, Powell has not said either way whether he will stay at the Fed as a governor.