According to BlockBeats, a former Federal Reserve governor, Kugler, unexpectedly resigned after Federal Reserve Chairman Powell declined to approve her exemption from handling financial assets that violated the Fed's ethical guidelines. A Fed official revealed that Kugler was under investigation by the Fed's internal oversight body due to recent financial disclosure issues before her resignation in August. Documents released on Saturday indicate that officials from the Fed's ethics office refused to approve Kugler's latest financial disclosure materials, forwarding the matter to the Fed's Inspector General's office. These filings, published on the U.S. Office of Government Ethics website, suggest that her financial activities may have breached the Fed's internal ethical standards. Kugler announced her resignation on August 1, effective August 8, without specifying the reasons.