Adriana Kugler's Departure: A New Opening on Fed's Board
Adriana Kugler will step down from the Federal Reserve's board next week, leaving a vacancy for President Trump to fill. Kugler was the first Hispanic Fed governor, appointed by President Biden. Trump's criticisms of the Fed's interest rate policy continue, as he aims to appoint officials supportive of rate cuts.
Devdiscourse News Desk | Washington DC | Updated: 02-08-2025 03:34 IST | Created: 02-08-2025 03:34 IST
- Country:
- United States
The Federal Reserve announced that Governor Adriana Kugler will leave her position next week, creating an opportunity for President Donald Trump to appoint a replacement on the influential board.
Kugler, the first Hispanic Fed governor, was appointed by President Joe Biden and would have completed her term in January. However, she will retire on August 8, having not attended the Fed's recent policy meeting.
Trump's criticism of the Fed persists, particularly after Chair Jerome Powell's decision to keep short-term interest rates unchanged. Trump demands lower rates and intends to appoint like-minded officials to the Fed board.
(With inputs from agencies.)
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