Daijiworld Media Network – Washington
Washington, Aug 4: US President Donald Trump has announced plans to appoint a new Federal Reserve governor and a new head for the Bureau of Labor Statistics (BLS) in the coming days, moves that could significantly shape the direction of American economic policy.
Speaking to reporters while returning from Bedminster, New Jersey, on Sunday, Trump confirmed he has "a couple of people in mind" to fill the Fed vacancy left by Adriana Kugler, who resigned on Friday. Her early departure has given Trump an opportunity to quickly install an ally who supports his push for lower interest rates.
Names being floated for the powerful position include National Economic Council Director Kevin Hassett, former Fed Governor Kevin Warsh, current Governor Christopher Waller, and Treasury Secretary Scott Bessent. Trump’s nominee could also be a potential candidate for Fed Chair when Jerome Powell’s term ends in May.
Kugler's resignation comes amid escalating tensions between Trump and the central bank. The president has repeatedly criticized Fed Chair Powell, labeling him "TOO ANGRY, TOO STUPID, & TOO POLITICAL" for resisting rate cuts and refusing to step down.
In another controversial move, Trump dismissed BLS Commissioner Erika McEntarfer just hours after the release of a weak jobs report, which included sharp downward revisions for May and June. The firing sparked backlash, including from McEntarfer’s predecessor William Beach — a Trump appointee — who called the dismissal baseless and warned it could damage the credibility of a respected institution.
“This is damaging,” Beach said on CNN. “I don't know that there's any grounds at all for this firing.”
Despite the controversy, Trump’s economic advisor Kevin Hassett defended the decision during media appearances, claiming that “massive data revisions” warranted a “fresh set of eyes” at the BLS.
McEntarfer had been confirmed by the Senate with strong bipartisan support, including a vote from then-Senator and current Vice President JD Vance.
Observers say Trump’s upcoming appointments could tilt the independence of key fiscal institutions as the 2026 elections approach.