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Investing.com -- Federal Reserve Governor Adriana D. Kugler will step down from her position effective August 8, the central bank announced Friday.
Kugler, who has served as a governor since September 13, 2023, submitted her resignation letter to President Trump and plans to return to Georgetown University as a professor this fall.
"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."
Federal Reserve Chair Jerome Powell expressed appreciation for Kugler’s service, noting that "she brought impressive experience and academic insights to her work on the Board."
During her tenure, Kugler served on multiple committees including the Committee on Financial Stability, the Committee on Federal Reserve Bank Affairs, the Committee on Board Affairs, and the Subcommittee on Smaller Regional and Community Banking. She also represented the Board at the Center for Latin American Monetary Studies and visited 10 of the 12 Federal Reserve districts.
Kugler’s term was originally set to expire in January 2026. Her resignation comes as President Trump and his allies have been pushing for the Fed to lower interest rates, which the central bank has not done this year.
The timing coincides with the Trump administration’s search for a replacement for Fed Chair Jerome Powell, whose term ends in May 2026. Treasury Secretary Scott Bessent had suggested the administration might nominate someone to fill Kugler’s seat who could later be elevated to chair.