Trump to name new Fed governor by end of the week

President Donald Trump has announced he will appoint a new Federal Reserve governor by the end of the week following the resignation of Governor Adriana Kugler, who will leave her post on 8 August.

Kugler became a governor in September 2023, and will leave before her term’s conclusion, which was set to expire at the end of January 2026.

"I'll be making that decision before the end of the week," Trump said. 

Trump noted that the selection process has been narrowed down to a few final candidates. “Everybody wants it. Okay? It’s not a couple, but we’ve narrowed it to a couple of candidates,” he said.

The president also indicated that the search for a potential replacement for current Fed Chair Jerome Powell has progressed, with the list now down to four individuals.

“We’re looking at the Fed chair and that’s down to four people right now… I’ve already said this, two Kevins and two other people,” Trump remarked.

There is ongoing speculation that Trump may use the upcoming Fed governor appointment to position a future chair candidate in a transitional role ahead of broader leadership changes at the central bank.

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