BREAKING: Fed Reserve Governor resigns, leaving Trump vacancy to fill

A press release from the Board of Governors of the Federal Reserve stated that she submitted her letter of resignation to Trump and will return to Georgetown as a professor.

"It has been an honor of a lifetime to serve on the Board of Governors of the Federal Reserve System," said Kugler. "I am especially honored to have served during a critical time in achieving our dual mandate of bringing down prices and keeping a strong and resilient labor market."

"I appreciate Dr. Kugler's service on the Board and wish her very well in her future endeavors," Federal Reserve Board Chair Jerome Powell said. "She brought impressive experience and academic insights to her work on the Board."

Trump has repeatedly pushed Powell to lower the interest rates over the course of his second term, with one of Trump's latest posts to Truth Social on the matter saying: "Too Little, Too Late. Jerome 'Too Late' Powell is a disaster. DROP THE RATE! The good news is that Tariffs are bringing Billions of Dollars into the USA!"

Now that a vacancy is open, Trump may be able to appoint a governor that could also put pressure on Powell to step aside. Kugler will be stepping down officially on August 8 and was appointed by former President Joe Biden.