The Federal Reserve Board of Governors Kuegler will resign next week, giving Trump an opportunity for an appointment.

Jin10 data reported on August 2, the Fed stated in a statement that Federal Reserve Board Governor Kuggler will resign next week, which provides Trump an opportunity to appoint a favored candidate who may take a leadership position at the Central Bank. Kuggler's position was not supposed to become vacant until January next year, and the seven-member Federal Reserve Board currently has no other vacancies. Now, Trump will have the chance to immediately appoint a governor to pressure Chairman Powell—and this governor could potentially succeed Powell. The statement said that Kuggler will step down next Friday (August 8) to return to Georgetown University as a professor. Kuggler did not attend this week's Fed policy meeting, and the board stated he was absent due to personal matters. Kuggler previously served as the Chief Economist at the U.S. Department of Labor and was appointed to the Federal Reserve Board by President Biden in 2023.