Fed Governor Kugler resigns early, Trump gains appointment power ...Middle East

Kugler, who joined the Fed in September 2023, will return to Georgetown University as a professor next autumn. She did not attend this week’s Federal Open Market Committee meeting, where interest rates were held steady.

The resignation gives Trump an opportunity to appoint a new governor who could influence monetary policy. Analysts speculate he may use the vacancy to position a future Fed chair. “She’s putting the ball in his court,“ said Derek Tang of LH Meyer, suggesting Kugler’s exit forces Trump to act on his rhetoric.

Kugler’s tenure coincided with aggressive rate hikes to combat inflation, drawing criticism from Trump. Despite progress toward the Fed’s 2% inflation target, tensions remain high. At this week’s meeting, two officials dissented, advocating rate cuts over concerns about job market risks.

In her resignation letter, Kugler emphasized her data-driven approach and commitment to public service. Her exit leaves the Fed navigating political pressure while balancing economic stability. - Reuters

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