Federal Reserve Board Member Steps Down

Adriana Coogler will resign from her role at the Federal Reserve later this month, the organization announced on Friday. Coogler has been part of the board since September 2023 and is set to return to Georgetown University as a professor this fall.

In a statement, she expressed her gratitude for the opportunity to serve on the Federal Reserve Board, stating, “It was a lifelong honor to serve the Federal Reserve Board. I am particularly honored to serve at a critical time in achieving the dual mission of lowering prices and maintaining a strong and resilient labor market.”

Jerome Powell, the Chairman of the Federal Reserve, thanked Coogler, wishing her success in her future endeavors. He noted her valuable experience and insights during her tenure.

This announcement comes in the wake of President Donald Trump’s public criticism of Powell for not lowering interest rates this year. Trump has repeatedly called for changes in the Federal Reserve’s approaches, particularly regarding interest rates.

Despite the political pressures, Powell is reportedly maintaining his position, with plans to complete his term, which ends in May 2026. Interestingly, some of Trump’s allies have suggested the concept of appointing “shadow Fed chairs” ahead of the conclusion of Powell’s term.