Trump Moves to Replace Fed and BLS Chief Amid Economic Shake-Up, Crypto Market Rallies
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The post Trump Moves to Replace Fed and BLS Chief Amid Economic Shake-Up, Crypto Market Rallies appeared first on Coinpedia Fintech News President Trump is moving quickly to replace two key economic positions, backing a pro-rate-cut agenda. With the chances of a September rate cut nearing 80%, markets are reacting—crypto has surged, adding to the growing momentum. Trump Eyes Fed, BLS Shake-Up After Sudden Exits Two major vacancies opened Friday, one at the Federal Reserve after Governor Adriana Kugler’s unexpected resignation, and the other at the Bureau of Labor Statistics after the President fired Commissioner Erika McEntarfer. McEntarfer was fired shortly after a weak jobs report in July, and the President accused her of manipulating job numbers. JUST IN: President Trump is naming a REPLACEMENT Labor Statistics Commissioner after he fired the Biden holdover, who severely down-revised the jobs report, in the next 3-4 days. “We had NO confidence. The numbers were ridiculous, what she announced.” “It’s a scam, in my… pic.twitter.com/hsTr8R4PeY — Eric Daugherty (@EricLDaugh) August 4, 2025 In a Truth Social Post today, Trump slammed last week’s jobs report as “rigged,” claiming it was manipulated to favor Democrats, just like pre-election data. He pointed to record job revisions as proof and vowed to appoint an “exceptional” replacement. Federal Reserve Governor Adriana Kugler’s term was set to end in January. In her letter to the President, she gave no explanation for stepping down. Her departure takes effect August 8. Trump is weighing several candidates for the Fed role and plans to announce his pick soon. “I have a couple of people in mind,” he said. Fed Shake-Up Gives Trump New Leverage Kugler’s resignation gives Trump a key opening to remake the Federal Reserve. During her tenure, she has backed Fed Chair Jerome Powell, who Trump often criticizes. According to…
Filed under: News - @ August 4, 2025 7:22 pm