Federal Reserve Governor Adriana Kugler has parted ways with the central bank just shy of her two-year anniversary with the agency, after handing U.S. President Donald Trump her official resignation letter on Friday. Kugler’s last day on the job will be Aug. 8. Her departure has sparked new chatter around Trump’s eventual pick for the Fed Chair position, currently occupied by Jerome Powell, whose term expires in May 2026.

The 55-year-old graduated with first-class joint honors degrees in Economics and Political Science from Canada’s McGill University and eventually earned a PhD in Economics from the University of California at Berkeley. She previously worked as chief economist at the Department of Labor and as U.S. executive director at the World Bank. Kugler will now return to her role as professor of Public Policy and Economics at Georgetown University in Washington, D.C.

Trump gleefully welcomed Kugler’s resignation. “‘Too Late’ Powell should resign, just like Adriana Kugler, a Biden Appointee, resigned,” the president wrote on his Truth Social platform on Friday. “She knew he was doing the wrong thing on Interest Rates. He should resign, also!”

And now, Trump is chomping at the bit to not only find a replacement for Kugler, but also, to select Powell’s successor. “I think that it’ll be one of four people,” the president revealed during a Tuesday CNBC interview. Current Fed Governor Christopher Waller, former Federal Reserve Governor Kevin Warsh, and National Economic Council Director Kevin Hassett are all in the running for the Fed chair position, according to the president. But it appears Treasury Secretary Scott Bessent, would rather continue working in Trump’s cabinet than move to the central bank.

“Both Kevins are very good, and there are other people that are very good too,” the president explained. “I love Scott, but he wants to stay where he is…He likes being Treasury secretary.”

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