Ex-Fed guv Kugler resigned after violating trading rules

Former Federal Reserve Governor Adriana Kugler, whose abrupt resignation allowed President Donald Trump to install an ally at the US central bank, violated Fed ethics rules and was subject to an internal probe when she stepped down in August, documents released Saturday showed.

- Bloomberg

In her final weeks at the Fed, Kugler sought to address a problem with her financial holdings, but Chair Jerome Powell denied her request for a necessary waiver ahead of the central bank's July 29-30 policy meeting, according to a Fed official. She skipped the meeting and announced her resignation days later.

The Office of Government Ethics on Saturday released Kugler's latest financial disclosures, which included previously undisclosed trading in multiple individual stocks in 2024 — some of which occurred during the Fed's blackout period - in violation of its ethics rules.