Former Fed Governor Adriana Kugler Accused of Improper Trading Around FOMC Meetings
Adriana Kugler, a former Federal Reserve governor appointed by President Joe Biden in September 2023, resigned abruptly three months ago without explanation. New disclosures reveal her departure followed violations tied to improper trading activities around Federal Open Market Committee (FOMC) meetings.
The controversy centers on Kugler's failure to disclose prohibited assets and her subsequent request for a waiver from Fed Chair Jerome Powell, which was denied. Ethics concerns emerged as early as September 2024, when she began working with compliance officers to address issues involving trades made by her or her husband, immigration lawyer Ignacio Donoso.
A September 11 financial disclosure flagged uncertified transactions, prompting referral to the Fed's Office of Inspector General. Kugler claimed unawareness of some trades executed by her husband, maintaining no intentional policy breaches occurred.
