Kugler's resignation gives Trump an opportunity to at least partially shape the Fed's makeup to his liking ahead of her original departure date. Kugler, a Biden-appointed governor, joined the seven-member board in 2023 and was set to serve through January 2026.

President Donald Trump called on the Federal Reserve board to “assume control” if Chair Jerome Powell does not lower interest rates, escalating his ongoing feud with the central bank’s head.

A member of the Federal Reserve’s Board of Governors announced Friday that she is resigning several months before the end of her term, handing President Donald Trump an early opportunity to fill a key vacancy.