Fed Board governor to resign next week

A governor of the Federal Reserve Board on Friday announced that she would step down from her role at the end of next week.

"It has been an honor of a lifetime to serve on the Board of Governors of the Federal Reserve System," wrote Governor Adriana D. Kugler in a statement. "I am especially honored to have served during a critical time in achieving our dual mandate of bringing down prices and keeping a strong and resilient labor market."

Her announcement follows the decision of the Fed to hold interest rates steady this week, a controversial move that prompted harsh rebuke from President Donald Trump.

Kugler was not one of the two board members who voted against maintaining the current rates. She plans to return to her post as a professor at Georgetown University in the Fall.