Former Federal Reserve Governor Kugler Faced Ethics Investigation Before Resignation

According to a report by Jinse Finance, a Federal Reserve official revealed that former Fed Governor Kugler suddenly resigned because Fed Chair Powell refused to approve her exemption for handling financial assets that violated the Fed's code of ethics. The official stated that before her resignation in August, Kugler was under investigation by the Fed's internal oversight body due to recent issues with her financial disclosures. Documents released on Saturday show that officials from the Fed's Office of Ethics refused to approve Kugler's latest financial disclosure materials and referred the matter to the Fed's Office of Inspector General. These disclosure materials, published on the website of the U.S. Office of Government Ethics, indicate that the details of her financial activities allegedly violated the Fed's internal code of ethics. Kugler announced on August 1 that she would resign effective August 8, without specifying a reason. (Golden Ten Data)