Trump Wins Again: The President Ready to Announce New Fed Governor, BLS Chief This Week

President Donald Trump announced he will name replacements for two critical economic leadership roles this week—one at the Federal Reserve and the other at the Bureau of Labor Statistics (BLS)—as he seeks to tighten his grip on U.S. economic data and policymaking.

Speaking to reporters on Sunday as he returned to Washington from New Jersey, Trump said he will appoint a new BLS commissioner within “three or four days” after firing Erika McEntarfer following the release of a major jobs report revision. He also stated that a nominee for the vacant Federal Reserve Board seat would likely be chosen “in the next couple of days.”

These appointments, both subject to Senate confirmation, could significantly shape Trump’s economic agenda for the remainder of his presidency and offer him greater influence over interest rate policy and official data releases.

Trump’s dismissal of McEntarfer marked an unprecedented move, drawing swift condemnation from economists and lawmakers. McEntarfer was confirmed to the role in January 2024 by a bipartisan 86-8 Senate vote, with support from then-senators JD Vance and Marco Rubio.

Trump accused McEntarfer of manipulating key economic data, calling the latest job numbers “ridiculous.” He claimed McEntarfer “had the biggest miscalculations in over 50 years,” referencing what he described as a history of “massive corrections,” including one that allegedly inflated job numbers ahead of the previous presidential election—an act he labeled “a SCAM.”

The jobs report released last Friday showed that figures for June and May were revised sharply downward by a combined 258,000 jobs—a highly unusual correction that shocked markets and raised fresh concerns about a suddenly weakening labor market.

White House officials defended McEntarfer’s removal, citing the need for “a pair of fresh eyes” at the BLS. National Economic Council Director Kevin Hassett said, “The data can’t be propaganda. The data has to be something that you can trust.” He criticized the BLS for what he called increasingly unreliable figures and emphasized Trump’s desire for more “transparent and reliable” reporting.

Meanwhile, the resignation of Fed Governor Adriana Kugler—five months before the end of her term—has opened another key opportunity for Trump to reshape economic policy. Kugler’s early departure could also allow Trump to influence the leadership transition from current Fed Chair Jay Powell, whose term ends in May 2026. Trump has long criticized Powell for keeping interest rates steady, calling him a “knucklehead” and accusing him of doing “a terrible job.”

Trump suggested that Kugler stepped down because she privately agreed with his position on interest rates, while the rest of the Fed remained opposed. Following her resignation, Trump took to social media to encourage Powell to resign as well.

Although Powell can remain on the Fed Board until 2028, he has yet to announce whether he will leave when his term as chair ends or stay on to potentially block another Trump appointee.

On Friday, Trump also called for the Federal Reserve’s Board of Governors to override the authority of Chair Powell, criticizing the head of the U.S. central bank for not cutting short-term interest rates.

If Powell doesn’t “substantially” lower rates, Trump posted, “THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!”

Although the Fed held rates steady last Wednesday, a clear divide emerged. Governors Michelle Bowman and Christopher Waller—both of whom have advocated for easing—voted against the decision. It marked the first time since 1993 that multiple governors dissented on a rate decision. Both are now considered top candidates for the next Fed chair.