An Appointee of Biden on the Federal Reserve has dendered her resignation

Fed Governor Announces Resignation, Opening Vacancy on Interest Rate-Setting Committee

"Adriana Kugler did not cite a reason but said she would return to her teaching position at Georgetown University in the fall.

The Federal Reserve has announced that Fed Governor Adriana Kugler is resigning early from her term and will exit the central bank on Aug. 8, creating a vacancy on the central bank’s 12-member interest rate setting committee that President Donald Trump will have an opportunity to fill.

Kugler, an appointee of President Joe Biden whose term was set to expire in January 2026, announced her departure in an Aug. 1 letter to Trump, saying she would return to her teaching post at Georgetown University this fall. She did not give a reason for her resignation.

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

Her exit comes after the Fed voted this week to keep interest rates unchanged, a decision opposed by two Trump appointees, Christopher Waller and Michelle Bowman, who argued for a quarter-point rate cut.

Kugler did not participate in the vote. In recent months, she had voiced support for holding rates steady until the effects of Trump’s new tariffs on inflation became clearer—a stance generally viewed as hawkish."

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The Federal Reserve Board of Governors has seven members. These governors are nominated by the President of the United States and confirmed by the Senate. They serve 14-year terms, with one term beginning every two years. The Board also includes a Chair and a Vice Chair, who are appointed by the President from among the sitting governors and serve four-year terms, according to the Federal Reserve Board.