Federal Reserve Board – Adriana D. Kugler submits resignation as a member of the Federal Reserve Board, effective August 8, 2025

The Federal Reserve Board announced on Friday that Adriana D. Kugler will step down from her position as governor of the Federal Reserve Board, effective August 8, 2025.

Dr. Kugler, who has served as a governor since September 13, 2023, submitted her letter of resignation to President Trump and will return to Georgetown University as a professor this fall. The text of the letter from Governor Kugler is attached.

“It has been an honor of a lifetime to serve on the Board of Governors of the Federal Reserve System,” said Governor Kugler. “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.”

“I appreciate Dr. Kugler’s service on the Board and wish her very well in her future endeavors,” said Federal Reserve Board Chair Jerome H. Powell. “She brought impressive experience and academic insights to her work on the Board.”

As a governor, Dr. Kugler was an active member in multiple committees including the Committee on Financial Stability, the Committee on Federal Reserve Bank Affairs, the Committee on Board Affairs, and the Subcommittee on Smaller Regional and Community Banking. She was also the Board’s representative to the Center for Latin American Monetary Studies. She visited 10 of the 12 Federal Reserve districts and visited a range of communities during her time as a governor.

Prior to her appointment, Dr. Kugler held multiple positions at Georgetown University, including as vice provost for faculty and as professor of public policy at the McCourt School, where she will return in the fall of 2025. Immediately before coming to the Board, she served as U.S. executive director at the World Bank, and in that role she was awarded the Chase Award by the U.S. Department of Treasury for her contributions to the multi-lateral development system. She also served as chief economist at the U.S. Department of Labor between 2011-2013.

She graduated with her Ph.D. in economics from the University of California at Berkeley and from McGill University with first class joint honors degrees in economics and political science.

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