#FedGovernorVacancy A vacancy on the Federal Reserve Board of Governors was created when Adriana Kugler, a governor appointed by President Biden, announced her sudden resignation effective August 8, 2025 (3 The Economist). This opened the way for a second term for President Donald Trump, who may appoint a new board member — someone more aligned with his economic views (particularly regarding interest rate cuts), and a potential successor to Fed Chair Jerome Powell. The nomination could be announced as early as this week — Trump stated he would make an appointment from among potential candidates: Kevin Hassett, Kevin Warsh, or Scott Bessent. This move has raised concerns among experts, as the Fed was designed to be an independent regulator, not directly subordinate to the president, and the resignation and appointment could undermine its authority and financial stability. Investors are closely watching these changes, as they significantly impact expectations regarding inflation, the cost of money, and the stability of the dollar.