President Trump said he will announce a new Federal Reserve governor and a new Bureau of Labor Statistics chief this week.
“The president said he will announce a new Federal Reserve governor and a new jobs data statistician in the coming days.”
https://www.axios.com/2025/08/04/trump-fed-governor-bls-labor-statistics-chief
He removed BLS Commissioner Erika McEntarfer after a weak July jobs report and accused her of manipulating numbers without any evidence.
Trump claimed the jobs figures were “rigged” even though critics say there is no proof.
https://www.reuters.com/legal/litigation/trump-fires-us-labor-official-over-data-gets-earlier-than-expected-chance-2025-08-01/
Economists warn this could shake confidence in U.S. economic data and unsettle markets.
“The move has stoked anxiety in the market that politics may bleed over into future economic considerations.”
https://news.bloomberglaw.com/international-trade/trump-fires-data-chief-on-bad-job-news-gets-chance-to-tilt-fed
The timing of the Fed appointment is also crucial. With Governor Adriana Kugler resigning early, Trump gains a rare early chance to influence rate decisions. Two dissenting Fed governors recently pushed for lower interest rates. Markets have already started betting on a rate cut soon.
Weak job numbers and political pressure could force Fed Chair Jerome Powell to lower rates earlier. That would make long-term U.S. bonds a safer bet in the near term.