By Gokhan Ergocun
ISTANBUL (AA) - Adriana D. Kugler, a member of the board of the US Federal Reserve, submitted her resignation on Friday.
According to a Fed statement, Kugler, serving as a governor since September 2023, submitted her letter of resignation to President Trump and will return to Georgetown University as a professor this fall.
"Adriana D. Kugler submits resignation as a member of the Federal Reserve Board, effective August 8, 2025," it added.
She said in the letter: "It has been an honor of a lifetime to serve on the Board of Governors of the Federal Reserve System.
"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."
Chair Powell said in a statement: "I appreciate Dr. Kugler's service on the Board and wish her very well in her future endeavors.
"She brought impressive experience and academic insights to her work on the Board."
On Wednesday, the Fed kept its policy rate unchanged, in line with expectations.
The Fed announced that the decision to hold the interest rate steady was made by a vote of 9 to 2.
After the decision, President Trump criticized Fed Chair Powell, calling him "TOO LATE, and actually, TOO ANGRY, TOO STUPID, & TOO POLITICAL, to have the job."
Trump urged the Fed board to "assume control" and do "WHAT EVERYONE KNOWS HAS TO BE DONE."
Following US President Trump's call, two Fed officials issued statements to explain the reasons for voting to cut interest rates at this week's meeting.