Story perspectives

Fed Governor Resigns Amid Ethics Investigation, Trump Appoints Miran

11/17/2025

Summary

Story summary

Adriana Kugler, a former Federal Reserve Governor, resigned in August after Chair Jerome Powell denied a waiver to address her holdings.
Disclosures showed that Kugler's spouse made prohibited stock purchases without her knowledge.
Fed ethics officials referred the matter to the Inspector General for investigation.
U.S. President Donald Trump appointed Stephen Miran, a proponent of aggressive rate cuts, to the Federal Reserve Board amid ongoing pressure for lower rates.

History

Historical Context

In 2018, the Federal Reserve faced ethical scrutiny, leading to Governor Neel Kashkari's resignation amid concerns over conflicts of interest. This incident reflects ongoing pressures on the Fed, particularly as President Donald Trump appointed Stephen Miran, who advocated for aggressive rate cuts. Such ethical lapses can erode public trust in financial institutions, underscoring the need for enhanced oversight and accountability.

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Story summary

Adriana Kugler, a former Federal Reserve Governor, resigned in August after Chair Jerome Powell denied a waiver to address her holdings.
Disclosures showed that Kugler's spouse made prohibited stock purchases without her knowledge.
Fed ethics officials referred the matter to the Inspector General for investigation.
U.S. President Donald Trump appointed Stephen Miran, a proponent of aggressive rate cuts, to the Federal Reserve Board amid ongoing pressure for lower rates.

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