Trump has launched a series of scathing attacks on Powell over his refusal to reduce interest rates. The president claimed that the central banker is "TOO ANGRY, TOO STUPID, & TOO POLITICAL, to have the job of Fed Chair" in a post on his Truth Social website on Thursday.

Federal Reserve Governor Adriana Kugler said Friday she will resign from the Federal Reserve Board of Governors effective Aug. 8, meaning President Trump could have a replacement in her seat earlier than expected.

Adriana Kugler, who sits on the Federal Reserve Board of Governors, unexpectedly announced her resignation on Friday, giving President Donald Trump a new vacancy to fill at the Fed. Kugler, 55, first assumed office at the Fed board in 2023.