Fed Governor Resigns, Giving Trump Opportunity to Shape Central Bank
Posted on: Aug 02, 2025 02:49 IST | Posted by: Nytimes
Supported by
The resignation comes as President Trump has openly pressured the central bank to lower interest rates and called for Jerome H. Powell, the chair, to step down.
Alan Rappeport and Colby Smith
Reporting from Washington
The Federal Reserve announced on Friday that Adriana D. Kugler will step down from her position as a governor of the Federal Reserve Board next Friday. Her term was due to expire in January, but her early resignation gives President Trump an opportunity to more quickly appoint someone who could eventually replace Jerome H. Powell as chair.
Ms. Kugler missed the Fed’s most recent policy meeting this week and did not vote. In a speech earlier last month, she said the Fed should not cut interest rates “for some time” as tariffs trickled through to consumer prices.
The opening on the board comes as Mr. Trump pressures the Fed to cut interest rates and publicly berates Mr. Powell, saying he should lower borrowing costs or resign. The president has also toyed with firing Mr. Powell or naming a successor before Mr. Powell’s term as chair ends in May. On Friday, he went so far as to call on the board to remove Mr. Powell from his position as chair.
The Fed statement about Ms. Kugler’s early resignation did not give a reason for her decision. The central bank declined to comment beyond the announcement.
“It has been an honor of a lifetime to serve on the Board of Governors of the Federal Reserve System,” said Ms. 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.”
Ms. Kugler has served as a governor at the Fed since September 2023 after being nominated by former President Joseph R. Biden Jr. She plans to return to her job as a public policy professor at Georgetown University in the fall.
Global News Perspectives
In today's interconnected world, staying informed about global events is more important than ever. ZisNews provides news coverage from multiple countries, allowing you to compare how different regions report on the same stories. This unique approach helps you gain a broader and more balanced understanding of international affairs. Whether it's politics, business, technology, or cultural trends, ZisNews ensures that you get a well-rounded perspective rather than a one-sided view. Expand your knowledge and see how global narratives unfold from different angles.
Customizable News Feed
At ZisNews, we understand that not every news story interests everyone. That's why we offer a customizable news feed, allowing you to control what you see. By adding keywords, you can filter out unwanted news, blocking articles that contain specific words in their titles or descriptions. This feature enables you to create a personalized experience where you only receive content that aligns with your interests. Register today to take full advantage of this functionality and enjoy a distraction-free news feed.
Like or Comment on News
Stay engaged with the news by interacting with stories that matter to you. Like or dislike articles based on your opinion, and share your thoughts in the comments section. Join discussions, see what others are saying, and be a part of an informed community that values meaningful conversations.
Download the Android App
For a seamless news experience, download the ZisNews Android app. Get instant notifications based on your selected categories and stay updated on breaking news. The app also allows you to block unwanted news, ensuring that you only receive content that aligns with your preferences. Stay connected anytime, anywhere.
Diverse News Categories
With ZisNews, you can explore a wide range of topics, ensuring that you never miss important developments. From Technology and Science to Sports, Politics, and Entertainment, we bring you the latest updates from the world's most trusted sources. Whether you are interested in groundbreaking scientific discoveries, tech innovations, or major sports events, our platform keeps you updated in real-time. Our carefully curated news selection helps you stay ahead, providing accurate and relevant stories tailored to diverse interests.
No comments yet.