Federal Reserve Chair Powell Resigns, Trump Receives a Vacancy

• Federal Reserve Chair Adrian Kugler is resigning effective August 8.
• President Trump has the opportunity to appoint a new board member.
• Kugler did not specify the reason for her resignation, but expressed satisfaction with her service.

Washington — Federal Reserve Chair Adrian Kugler announced her resignation, effective August 8, 2025. This opens up the possibility for President Donald Trump to appoint a new board member.

Kugler, who was appointed by former President Joe Biden in 2023, planned to complete her term in January 2026. In her statement, she did not specify the reason for her resignation, but noted that she served during this critical time for the economy.

Trump commented on the resignation, stating that Kugler's departure was due to differences regarding monetary policy interest rates, as the Federal Reserve decided to keep rates unchanged. He expressed satisfaction with the possibility of appointing a new board member, which could influence future decisions.

The Federal Reserve did not provide official comments regarding the reasons for Kugler's resignation, which she missed the last meeting, at which it was decided not to change interest rates for the first time in five years. Trump also noted that the administration is actively seeking a successor for Fed Chair Jerome Powell, whose term ends in 2026.

Tags: USA/Politics/Economy