Former Federal Reserve Governor Kogler faced an ethics investigation before resigning

According to Jinshi reports, a Federal Reserve official revealed that former Federal Reserve Governor Kuggler suddenly resigned because Federal Reserve Chairman Powell refused to approve her exemption for handling financial assets that violated the Federal Reserve's ethical standards.

The official stated that Kuggler was under investigation by the Federal Reserve's internal oversight body for recent financial disclosure issues prior to her resignation in August. Documents made public on Saturday show that officials from the Federal Reserve's Office of Ethics refused to approve the latest financial disclosure materials submitted by Kuggler and referred the matter to the Office of the Inspector General of the Federal Reserve. These disclosure materials, published on the website of the U.S. Office of Government Ethics, indicate that the details of her financial activities may have violated the Federal Reserve's internal ethical standards.

Kuggler announced her resignation effective August 8 on August 1, without specifying the exact reasons.