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Speaker 1: News when you wanted. With Bloomberg News Now, I'm Amy Morris.

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Speaker 1: Federal Reserve Governor Adriana Kugler will step down from her

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Speaker 1: position on the Central Banks Board. Kugler did not attend

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Speaker 1: this week's FMC meeting due to a personal matter. Her

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Speaker 1: resignation comes amid intense pressure from President Trump and his

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Speaker 1: allies for the FED to lower interest rates, which they

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Speaker 1: have not done this year. Treasury Secretary Scott Bessen had

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Speaker 1: suggested the administration might nominate someone to first fill Kugler's seat,

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Speaker 1: and then later move to elevate that person to chair.

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Speaker 1: Kugler has served as a FED governor since September of

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Speaker 1: twenty twenty three. Her term was set to expire in January. Now,

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Speaker 1: her resignation is effective August eighth. She will return to

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Speaker 1: her position as a professor at Georgetown University. That's news

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Speaker 1: when you want it. With Bloomberg News Now, I'm Ammy Morris,

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Speaker 1: Missus Bloomberg