President Donald Trump, who wants interest rates, will be able to appoint a new member of the monetary committee of the Federal Reserve (FOMC) which sets monetary policy, after the surprise of the Fed governor on Friday.
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Adriana Kugler “sent her resignation letter to President Trump and will return to teach Georgetown University this fall,” the United States Central Bank reported in a statement.
The mandate ofme Kugler, appointed in 2023 in this position on the initiative of President Joe Biden, was to continue until the end of January 2026. His resignation will come into force from August 8.
Neither the press release nor his mail to Mr. Trump give the reasons for his early departure.
Solicited by AFP, the Fed did not wish to say more.
AFP
Earlier this week, Adriana Kugler was unable to participate in the meeting of the Fed Monetary Policy Committee or vote on interest rates.
A spokesperson for the central bank had reported that it was for a “personal reason”.
The announcement comes at a complicated period for the Fed, whose President Jerome Powell is continuously put under pressure by Donald Trump who accuses him of not lowering the rates.
The institution also begins to experience dissensions about the monetary policy to be carried out, while the economy is shaken by the protectionist offensive of the American executive.
The last monetary meeting of the Fed, which was therefore held in the absence of Mme Kugler, ended with a maintenance of rates at their current level as well as the rare dissension of two governors, Michelle Bowman and Christopher Waller.
“I will always be proud of the important work that I have carried out as the governor of the federal reserve,” wrote Adriana Kugler in her letter to Donald Trump transmitted to the press, which she concludes by thanking Jerome Powell “for her unwavering commitment to the federal reserve and the American people”.
Jerome Powell is supposed to chair the Fed until May 2026. He can in theory then remain there as a simple governor until January 2028.
But Donald Trump also covets his seat to place a person closer to his views. He also “said he is very happy to have the opportunity to appoint a new member of the Fed”.
