Former Fed Gov. Kugler’s property records deepen mystery of her resignation
Former Federal Reserve Governor Adriana Kugler’s sudden resignation from the board of directors on August 1 – and the absence of an unexplained lack of a key meeting two days ago – shocked and confused.
The duration of Kugler, which was nominated by former democratic President Joe Biden to fill a surprise gap on the FED board of directors and approved in 2023, would not expire until January 2026.
In the August 1 resignation letter addressing Trump, Kugler did not make a statement about why he had abandoned his job only months before his term of office.
“I am writing to report that I have resigned as the governor of the Federal Reserve Board as of 8 August 2025.”
“Federal Reserve System Board of Directors was honored to work for a lifetime.”
Federal reserve in question In a press release on August 1, Kugler “This autumn will return to Georgetown University as a professor.”
But Kugler’s faculty page Georgetown’s website It doesn’t show that he didn’t teach any lessons in this fall.
On the contrary, the university still lists Kugler as the “Federal Reserve Governor”, which deprived the “Georgetown”.
The Georgetown spokesman did not answer the questions sent by CNBC about Kugler’s university status.
Trump claimed that Kugler had resigned because he did not have the same agreement with one of his party “.
“In the interest rate ‘too late’ did not agree, so we will see what will happen,” Given to journalists For Powell, using his favorite nickname in the southern grass of the White House.
The mystery surrounding the resignation of Kugler and the questions about whether or not it has been under pressure to resign have gained a new urgency in recent weeks since its resignation.
This week, Kugler rejected the request of CNBC that he resigned so suddenly.
He also refused to tell him if no one puts pressure on him to resign from the Fed.
Campaign Against Cook
On August 20, Federal Housing Finance Agency Director William Pulte announced that he launched a campaign to force Kugler’s former colleague to resign Governor Lisa Cook on the board of directors.
Especially Pulte accused Cook as a “primary residence” as the “primary residence” in mortgage documents and accused of making “mortgage fraud”. In addition, both properties suggested that if they are considered as “primary” housing, they could get lower interest rates.
On August 15, Pulte gave a criminal referral against Cook, claiming that he had made a mortgage fraud to the Ministry of Justice.
Five days later, President Donald Trump said he fired Cook on the charges, wrote in a letter published on social media and gave him enough reason to “remove you from your position”.
Cook answered Trump’s letter hours later and said, “There is no reason in accordance with the law, and there is no authority to remove it.”
Im I won’t resign, Cook Cook said in a statement. “I will continue to fulfill my duties to help the American economy, as I have done since 2022.”
Cook filed a lawsuit against the Trump administration on August 28, and argued that the President of the President was a curtain of smoke for a real reason where the “case” of the president was trying to remove him: a policy dispute on interest rates. The case is playing in the federal court.
Pulte also New York Chief Prosecutor Letitia James and Democratic California Sen. Man has long accused Schiff of Trump’s long -term legal antagonists of mortgage irregularities.
James, Schiff and Cook refused to do wrong directly or through lawyers.
Kugler’s real estate records
However, Cook is not the only senior supply authority asking for questions about which one of the personal real estate records.
US Federal Reserve Jerome Powell President, Michelle Bowman (L), Vice Chairman of the Board of Directors, Lisa Cook (2nd R), Governor of the Board of Directors (R), together with the Governor of the Board of Directors, the Federal Reserve Board Open Meeting, which discusses the proposed revisions in the Federal Additional Reserve Board Standards 202.
Saul Loeb | AFP | Getty Images
The CNBC review of Kugler’s personal financial explanations and Maryland state tax records revealed two apparently incompatible statements of Kugler’s primary residence.
Kugler told CNBC on Thursday that the invisible inconsistency in real estate records was an error made by district tax officials.
The Kugler Government lists a mortgage on the “personal housing” on the “personal housing”, which is valued between $ 1 and $ 5 million for the Ethics of 2021, 2022 and 2023.
However, Bethesda, art.
In Kugler’s records, this section “Main Housing: No.”
In the same years, public records Kugler and her husband show that they had a single family house and then rented it and sold in 2023 for $ 1.45 million.
These records have not been reported before.
There is no indication that Kugler has done something inappropriate or that he gets any unnecessary financial gain from his houses or tax status.
Federal Reserve Governor Adriana Kugler, Palo Alto, California, USA, USA, Stanford Economic Policy Research Institute speaks at the annual economic summit, March 1, 2024.
Ann Saphir | Reuters
The situation of Kugler is also significantly different from Cooks, because it does not include the mortgage loan applications of the records of Kugler’s ownership, only tax records and federal explanation reports.
And it is not rare that someone explains a personal residence in the form of an ethical ethics in an ethical ethics that do not have “main residences” like a holiday house.
The different terms used in official documents may seem similar, but it has very different legal meanings such as main residence, personal residence and primary housing.
However, it is not clear from Kugler’s records on their faces that he really lived for several years and served as Biden administrative officials.
Kugler is also close to Rockville, where he reported rent income between 15,000 to 50,000 dollars in 2023.
He is a member of the Board of Directors of the Federal Reserve System. Adriana Kugler witnessed a Senate Banking Candidate on June 21, 2023 during a Senate Banking Claim at Washington DC.
Drew angerer | Getty Images
“My primary residence has always been listed in my financial statement, and this residence was never rented,” Kugler said in a statement to CNBC, provided by a person authorized to speak on behalf of him. He said.
He said: “After moving to this housing in July 2021 with Montgomery County, but we can not update the records of Montgomery County.
Montgomery County spokesman said on Friday, “the district has the ability to change the status of a property owner – this was handled by Maryland evaluation and taxation department.”
The inconsistent real estate records became an ammunition used by the Trump administration to target the political enemies of the Trump, and often referred to the records to accuse people of the “fraud” commitment to the public.
Trump’s preferred weapon
For the president, the risks surrounding Kugler and Cook’s seats on the FED board of directors could not be higher.
Kugler’s resignation gave Trump the opportunity to choose a successor to fill his seat until the end of the Kugler’s time.
Trump chose the White House Advisor Stephen Miran, who was in Washington on Thursday, on Thursday, Trump.
Miran’s residence on the FED board of directors would win a victory for Trump during the war that lasted for months to control the Federal Reserve President Jerome Powell and on the extremely powerful institution and interest rate adjustment authority.
A few priorities more important Rather than the free affected effect on the Central Bank.
Trump for a long time accused Fed of making interest rate decisions that motivated him with political prejudice against him.
He and his administration deliberately accused Powell of taking back the economic growth of the US.
Since he took office in January, he has applied intense pressure on Trump, Powell and other Fed governors to reduce borrowing costs – in vain.
This edition is Friday morning, Trump He wrote on social media “Jerome is too late” Powell should reduce rates long ago. As usual, “It’s too late!”
White House Press Secretary later Moreover Trump’s “Agenda Jerome’s ‘Too Late’ Powell’s President Trump refused to admit that he was right about everything.”
While Miran was sitting, Trump would nominate three of the seven governors on the board of directors, and one step closer to what he described as the goal of dominating the Central Bank.
The day after trying to ignite Cook, Trump said that the four of the seven governors would be nominated after he went and his successor was confirmed.
US President Donald Trump, Foreign Minister Marco Rubio, Defense Secretary Pete Hegseth, Trade Secretary Howard Lutnick and Inner Secretary Doug Burgum attended a cabinet meeting in Washington, DC on August 26, 2025.
Jonathan Ernst | Reuters
“We will have the majority in a very short time,” he said at a cabinet meeting at the White House on August 26th. “This will be great.”
“When we have the majority, the housing will be swing and this will be great.” He said.
“People pay a very high interest rate. This is the only problem for us. We have to reduce the rates a little.”
