Core Insights - Former Federal Reserve Governor Adriana Kugler resigned abruptly in August 2023, citing a "personal matter," which was later revealed to be linked to an internal ethics investigation regarding alleged improper stock trades [2][3][5] - The resignation raised concerns among economists and market watchers, particularly as it coincided with her request for a waiver from the Fed's enhanced ethics rules, which was denied by Fed Chair Jerome Powell [4][11][12] - Kugler's financial disclosures indicated multiple stock transactions that violated central bank policies, leading to a probe by the Fed's internal watchdog [5][13][15] Group 1 - Kugler's resignation was effective August 8, 2023, and she had previously served as the U.S. Executive Director of the World Bank before her appointment to the Fed [6][8] - Her absence from the Federal Open Market Committee's meeting on July 29-30 raised eyebrows, and her resignation was seen as politically advantageous for President Donald Trump, who was advocating for lower interest rates [7][9] - Stephen Miran was appointed to replace Kugler temporarily and has since supported rapid interest-rate cuts [10] Group 2 - The U.S. Office of Government Ethics released a report on November 14, 2023, detailing the investigation into Kugler's financial disclosures, which were not certified by Fed ethics officials [13][15] - Kugler, now a professor at Georgetown University, has declined to comment on the situation [14]