Bitcoin News Today: Trump Fires BLS Director Over 'Bad Data' as Bitcoin Plummets in Response

US President Donald Trump announced on July 21, 2025, that he had ordered the immediate removal of Erika McEntarfer, Director of the Bureau of Labor Statistics (BLS), citing the release of “bad data” in the most recent employment report. The July nonfarm payrolls figure rose by just 73,000, and the data for the previous two months was revised downward by about 260,000, marking the weakest three-month average of 35,000 since the post-pandemic period. In a post on his social media platform, Truth Social, Trump accused McEntarfer of politicizing the data and labeled her a “Biden political appointee,” though no evidence was provided to substantiate the allegations [1].

The move triggered a sharp drop in Bitcoin’s price as traders reacted to the heightened uncertainty. The cryptocurrency’s value fell rapidly within minutes, reflecting investor concerns over the political interference in economic data and its potential implications for policy and market confidence [1]. The decision also raised broader questions about the independence of federal statistical agencies and the reliability of key economic indicators.

McEntarfer, who was appointed by Joe Biden in 2023 and confirmed by the Senate in early 2024, has not yet issued a public response to her removal. The BLS has not released an official statement on the matter. The employment data is collected through a three-month survey process, and recent response rates from companies have dropped below 60%, compared to over 70% prior to the pandemic. Annual revisions to the data are typically released in February, with the 2024 preliminary estimate being one of the largest adjustments since 2009 [1].

In the same post, Trump also criticized Federal Reserve Chair Jerome Powell, accusing the Fed of indecisiveness in managing interest rates and suggesting that Powell “should be retired now.” These comments came amid ongoing discussions about the Fed’s potential rate-cutting strategy, with officials such as Raphael Bostic recently addressing the topic. The remarks have added to the uncertainty surrounding future monetary policy [1].

---

Source: [1] [Donald Trump Announced He Will Fire the Head of ...](https://en.bitcoinsistemi.com/donald-trump-announced-he-will-fire-the-head-of-the-statistics-bureau-for-publishing-bad-data-bitcoin-reacted/)