Shock Resignation in the Fed Administration: Adriana Kugler

Federal Reserve former official Adriana Kugler suddenly resigned after Jerome Powell refused to allow her to rectify her financial assets that were in violation of ethical rules. This situation was confirmed by Fed officials.

Kugler announced her resignation on August 1st and stated that she would leave her position as of August 8th. Previously, she had cited “a personal matter” as the reason for missing the policy meeting on July 29-30.

Fed's internal audit body rejected the verification of Kugler's financial disclosures and referred the matter to the Fed General Inspector for Directors. These documents revealed details related to Kugler's financial activities and indicated that these activities violated Fed ethics rules.

In her financial disclosure, Kugler acknowledged that the purchases of stock in Apple Inc. and Cava Group Inc. made by her husband were contrary to Fed investment and trading rules. These transactions were in violation of general prohibitions restricting senior Fed officials and their family members from trading certain stocks. Kugler stated that these transactions were carried out without her knowledge.

Her resignation provided President Donald Trump with an opportunity to fill a vacancy in Fed management sooner than expected. The vacancy was given to Stephen Miran, who has drawn attention as a Trump supporter calling for rapid interest rate cuts.