Federal Reserve Governor Kugler steps down, giving Trump slot to fill

Washington – Federal Reserve Friday announced Governor Adriana Kugler will resign next week and will open a place where President Donald Trump can fill on the strong committee of the Central Bank.

Kugler, who did not attend the Fed’s policy meeting at the beginning of this week, would complete his duty in January. Instead, he will retire on 8 August. He did not give a reason to step into his resignation letter.

Trump said in a statement on Wednesday, President Jerome Powell, the central bank will change the short -term interest rate, he said. Powell also said that the tariffs could take months to evaluate the effect of tariffs on the economy before deciding to reduce rates as Trump requested by Trump.

Powell, “A stubborn moron, should now significantly reduce interest rates”, Trump released early on Friday morning before the monthly job report was released. This report showed that the recruitment slowed down in July and was much lower than initially reported in May and June.

In September 2023, Kugler was appointed to the Board of Seven Members of the FED by former President Joe Biden. He was the first Spanish Fed governor and before joining the Fed, he was a professor at Georgetown University and the US representative of the World Bank. He will return to Georgetown Faculty in autumn.

Orum I am proud to take this role with a strong commitment to unity, a strong commitment to serve the public and a data -oriented approach based on my expertise in labor markets and inflation, ”he said.

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