Coogler's unexpected resignation could accelerate Trump's selection of the next Federal Reserve chairperson
2025-08-02 15:11:25
The abrupt resignation of Federal Reserve governor Robert Kugler on Friday gives US President Donald Trump the chance to fill the Fed vacancy sooner than expected and could force him to finalise his next chair months in advance. "Now the ball is at Trump's feet, and Trump has been pressuring the Fed to put his own people in," said Derek Tang, economist at LH Meyer, a monetary policy analysis firm. "Now is the opportunity." Since Powell's term as chairperson ends in May next year, his term on the board will last until 2028. If Powell does not resign voluntarily, Trump will have no chance to fill the vacancy until 2028. In this case, Trump may be forced to fill the Kugler vacancy with a proposed chairperson. Tobin Marcus, head of US policy and political strategy at Wolf Research, said: "The point is that this is the only available opening for Trump. If he wants to find the next chairperson from outside the Fed, the nomination may be announced in advance." (Kim Ten)
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