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.

Federal Reserve governor Adriana Kugler announced that she will step down next Friday, opening up a spot on the central bank’s powerful board that President Donald Trump will be able to fill.

Federal Reserve Gov. Adriana Kugler announced Friday she will resign from the central bank’s board Aug. 8, leaving a key vacancy for President Trump to fill ahead of schedule. Kugler, who was appointed to the Fed board by former President Biden and confirmed in 2023,