Fed governor Adriana Kugler resigning, opening up spot for Trump to fill

Federal Reserve governor Adriana Kugler announced that she will step down next Friday, opening up a spot on the central bank’s powerful board that President Trump will be able to fill.

Kugler, who did not participate in the Fed’s policy meeting earlier this week, would have completed her term in January. Instead, she will retire Aug. 8.

She did not provide a reason for stepping down in her resignation letter.

Trump has stepped up his criticism of the Fed since chair Jerome Powell said Wednesday that the central bank would keep its short-term interest rate unchanged.

Powell also said the Fed could take months to evaluate the impact of tariffs on the economy before deciding to cut rates, as Trump has demanded.