Federal Reserve governor Adriana Kugler announced that she will step down next Friday, opening up a spot on the central bank’s powerful board that President Donald Trump will be able to fill.

Kugler's resignation gives Trump an opportunity to at least partially shape the Fed's makeup to his liking ahead of her original departure date. Kugler, a Biden-appointed governor, joined the seven-member board in 2023 and was set to serve through January 2026.

Federal Reserve Governor Adriana Kugler announced Friday she is stepping down from her role at the central bank, creating an important vacancy at a time when President Donald Trump is pushing for lower interest rates.