Her resignation now paves the way for Trump to put his own nominee in for the Board of Governors. Two of his prior appointments, Christopher Waller and Michelle Bowman, voted against the decision at Wednesday's meeting to hold the Fed's key rate steady, instead indicating they wanted to lower.

A bubbling movement to overhaul the Fed is ready to seize the moment. Big changes are in store for the central bank.

Fed Chair Jerome Powell said the economy is solid — and that it's also too early to tell how tariffs will affect it.