Adriana Kugler | Image:
Republic
Since Governor Adriana Kugler is resigning early from her term and will exit the American central bank, The Federal Reserve on August 8, 2025, she will potentially shake up an already fractious succession process for Fed leadership amid difficult relations with President Donald Trump, the Fed said on Friday.
What Did The Fed Say?
Kugler, who had become a governor in September 2023, will leave before her team’s conclusion, which was scheduled for January 31, 2026, the Fed said in a statement.
Kugler will also be returning to Georgetown University as a professor next autumn, the statement added.
What Does Kugler’s Resignation Mean?
While Kugler did not attend this week’s rate-setting Federal Open Market Committee meeting, her early departure may also shake up the timeline for the succession process now surrounding Fed Chair Jerome Powell, whose term also ends next May.
This further means that Trump will now get to select a Fed governor to replace Kugler and finish out her term.
There is also speculation that Trump might pick a potential future chair to fill that slot as a holding place, according to a Reuters report.
Who Is Adriana Kugler?
Adriana Kugler is an economist and a member of the Federal Reserve’s Board of Governors and she is about to resign early from her position.
She has previously served as the US executive director of the World Bank, a position for which she was nominated by former President Joe Biden in August 2021 and confirmed by he US Senate in April 2022.
Additionally, she is also a professor of public policy and economics at Georgetown University, where she is on a leave of absence.
She is a highly accomplished labor economist and a professor with experience in both academia as well as public policy.
Her father was also an economist who has worked with the World Bank.
She decided to pursue a bachelor’s degree in those fields at McGill University in Montreal, where she graduated with first class joint honors in 1991.
Further, Kugler pursued a doctoral degree in economics at the University of California at Berkeley, where she studied under the supervision of Nobel laureate George Akerlof, husband of Janet Yellen, the current U.S. Secretary of the Treasury and she completed her PhD in 1997.
She has been a professor at several prestigious institutions including Harvard University, the London School of Economics, and Georgetown University.
Adriana Kugler, a Colombian-American labor economist and former U.S. executive director of the World Bank, was sworn in as a member of the Board of Governors of the Federal Reserve on Sept. 13, 2023. As of her appointment, she was the first Hispanic member of the board in its 109-year history.