Aug. 2 (UPI) -- One of the seven members of the Federal Reserve Board of Governors, Adriana Kugler, announced she is stepping down next week, creating an opening for President Donald Trump to fill.
Her term was set to expire in January but Kugler said Friday she will depart in seven days. President Joe Biden appointed Kugler, a 55-year-old labor economist, in September 2023.
Governors' terms are for 14 years, and Kugler filled an opening.
"The Federal Reserve does important work to help foster a healthy economy and it has been a privilege to work towards that goal on behalf of all Americans for nearly two years," Kugler said in her resignation letter to Trump. "I am proud to have tackled this role with integrity, a strong commitment to serving the public, and with a data-driven approach strongly based on my expertise in labor markets and inflation."
Kugler said she plans to return to teaching public policy at Georgetown University in the fall. She was a vice provost for faculty at Georgetown and earned her Ph.D. in economics at the University of California at Berkeley.
