Adriana Kugler’s seen enough.

“Dear President Trump, I am writing to notify you that I am resigning from my position as a governor of the Federal Reserve Board effective August 8, 2025,” Kugler said Friday, informing The White House of her decision to step away five months early.

Kugler’s term as governor expires in January, and there was some suggestion her replacement — i.e., Trump’s nominee to fill her vacant seat — would ultimately end up stepping into Jerome Powell’s role when his term as Chair expires in May. Now, Trump will get to make that nomination ahead of schedule.

Kugler, a Democrat and a Joe Biden nominee, gave no reason for her decision, but you don’t need to be a detective to solve this mystery.

She described her (short) tenure on the board as the “honor of a lifetime.” “I am especially honored,” she said, “to have served during a critical time in achieving our dual mandate of bringing down prices and keeping a strong and resilient labor market.”

I don’t want to read anything into her letter that isn’t there, but Kugler’s reference to approaching her role at the Fed “with integrity,” and her emphasis on the importance of “a data-driven approach” to policymaking, might be construed as veiled criticism of Trump’s over-the-top efforts to politicize the board.

The Fed announced her decision at 3:30 ET on Friday afternoon, shortly after Trump said he intends to fire BLS chief Erika McEntarfer for “rigging” the July jobs report.

Kugler’s CV includes a stint as chief economist for the Department of Labor under Barack Obama. She closed her resignation letter by thanking Powell “for his unwavering commitment to the Federal Reserve and the American people.”