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.

Federal Reserve Governor Kugler announces her resignation effective August 8, creating a vacancy on the Board after less than a year.

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.