by Michael S. Derby
(Reuters) – The American Federal Reserve (Fed) announced on Friday the resignation of one of his seven governors, Adriana Kugler, who will leave the central bank on August 8, in a context of tensions while Donald Trump multiplies criticism against the boss of the institution.
Adriana Kugler, appointed governor in September 2023, will leave before the end of her mandate scheduled for January 31, 2026 and will return to Georgetown University as a professor next fall, the Fed said in a statement.
Unusual fact, she did not attend the meeting of the Fed Monetary Policy Committee (FOMC) on Wednesday which opted for the maintenance of the central bank rates. The Fed did not respond to a request for comments from Reuters on the reasons for its immediate resignation.
This departure could upset the calendar of the succession process that currently surrounds President Jerome Powell, whose mandate ends next May. Donald Trump has repeatedly made his desire to see him leave the presidency of the Fed, believing that interest rates should be much lower than they are.
The members of the Governors’ Bureau are appointed by the president and confirmed by the Senate, leaving a room for maneuver to Donald Trump who could choose a future potential president to occupy the vacant position.
(Report Michael S. Derby; Kate Entringer)
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