The surprise early resignation of former Fed Governor Adriana Kugler, another Biden pick, gives Trump an early opening to nominate someone to the central bank’s board and steer its monetary policy trajectory more toward his preferred path. He has named one of his economic aides, Stephen Miran, to fill the slot on an interim basis.

The dollar declined following President Trump's call for Federal Reserve Governor Lisa Cook's resignation amid mortgage fraud allegations. Markets reacted to concerns of political interference in the Federal Reserve.