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.

The Federal Reserve held rates steady in July but two governors dissented, saying they had concerns about labor market fragility.

Surprisingly weak July hiring data released on Friday highlighted a fractious Federal Reserve debate over whether the central bank should have cut interest rates when it met this week, as it offered some support to those who’d favored an easing in borrowing costs.