BlockBeats news, on August 4, President Trump stated: he will announce a candidate in the coming days to fill the vacant Federal Reserve Governor position. (Jinshi)
On August 2, the Federal Reserve stated in a statement that Federal Reserve Governor Quigley would resign next week, providing Trump with an opportunity to appoint a favored candidate early. Now Trump will have the chance to immediately appoint a governor to pressure Chairman Powell—and this governor could potentially succeed Powell. Quigley has submitted his resignation to President Trump and will step down on August 8 to return to Georgetown University as a professor. Quigley did not attend last week's Federal Reserve policy meeting, and the board stated he was absent due to personal matters. Quigley previously served as the Chief Economist of the U.S. Department of Labor and was appointed as a Federal Reserve Governor by Biden in 2023.