Federal Reserve Governor Greg Kugler will resign next week, giving Trump a head start on appointments
2025-08-01 19:45:32
The Federal Reserve said in a statement that Kugler, a governor of the Federal Reserve, will resign next week, providing Trump with an opportunity to advance the appointment of a favored candidate who may take up the central bank leadership position. Kugler's position was not due to be vacant until January next year, and there are currently no other vacancies on the seven-member Federal Reserve Board of Governors. Now, Trump will have the opportunity to immediately appoint a governor to put pressure on Chairperson Powell - and who may succeed Powell. The statement said that Kugler has tendered his resignation to US President Trump and will step down next Friday (August 8) to return to Georgetown University as a professor. Mr. Coogler, a former chief economist at the Labor Department who was appointed by President Biden to the board in 2023, did not attend this week's Fed policy meeting and the board said he was absent on personal business.
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