Summary
Former Federal Reserve governor Adriana Kugler was investigated for possibly breaking stock trading rules. These rules are meant to stop top Fed officials from trading stocks around the time of important Fed meetings. Her resignation created an opportunity for President Trump to appoint a new official.
Key Facts
- Adriana Kugler, a former Federal Reserve governor, was under investigation for violating stock trading rules.
- She resigned from the Fed in August, leaving a vacancy for President Trump to fill.
- Kugler's financial disclosures showed she or her husband traded stocks during restricted periods.
- The Fed has a rule against trading individual stocks or making short-term trades by top officials or their family members.
- Kugler’s request for permission to handle certain investments before a Fed meeting was denied.
- Kugler did not attend or vote at the Fed policy meeting in late July.
- The Fed's ethics office referred Kugler's case to an independent watchdog for review.
- President Trump appointed Stephen Miran to replace Kugler on the Fed Board of Governors.
