Dr. Adriana Coogler, a member of the Federal Reserve, spoke to the New York State Economic Club in New York City, USA on June 5, 2025.
Kylie Cooper | Reuters
Federal Reserve Governor Adriana Kugler announced Friday that she will step down from her central bank role, creating a key vacancies when President Donald Trump is seeking low interest rates.
In a letter addressed to Trump, Coogler, 55, did not give any reason for her decision to leave, but she noted that she would return to Georgetown University in the fall as a professor.
“It was a lifelong honor to serve the Federal Reserve Governor’s Committee,” writes Kugler. “I am particularly honored to serve at a critical time in achieving the dual mission of lowering prices and maintaining a strong and resilient labour market.”
Coogler’s term of office was set to expire at the end of January 2026. The Biden candidate joined the Governor’s Committee in September 2023 to fill the expired term of Lael Brainard, who remained to serve as Biden’s economic advisor. As governor, Coogler was a permanent voter on the Federal Open Market Committee on Rate Setting.
Her resignation now paves the way for Trump to put his candidate on the board. Two of his previous appointments, Christopher Waller and Michelle Bowman, voted against the decision at a meeting Wednesday to stabilize the Fed’s key rate. Coogler was absent due to the vote.
Trump argued without evidence that Coogler had resigned his disagreement with Powell on interest rates. Trump added that he is “very happy” about having a Fed vacant seat to fill.
Coolers have generally expressed Hawkish’s views, stabilizing and supporting retention rates until the impact of Trump’s tariffs on inflation becomes more clear.
Federal Reserve Chair Jerome Powell was very hoping for Coogler, saying, “She brought impressive experience and academic insights to her work on the board.”
Trump said Litmus will test potential candidates and only support those who support low interest rates.
In addition to Coogler’s departure, Powell’s term ends in May, but was able to choose to remain as governor in 2028.
Anyway, Coogler will be able to help Trump share his opinion on the fees and get people who may aim to fill Powell’s seat. The president and some of his advisors messed around with the idea of a “shadow chair” that could essentially act on the board until Powell leaves.
