Trump's 'Personnel Change Plan' Initiated? Will Powell Be Next?

Right after the employment data unexpectedly 'shocked the market', Trump suddenly fired the director of the U.S. Bureau of Labor Statistics (BLS), causing a stir in the market.

The reason is not complicated:

The latest report from the BLS shows that the number of new jobs in the U.S. has been significantly revised down, by a full 258,000 less than originally reported, and the new data for July is similarly weak. This appears to be bad news—but for Trump, it is rather an 'unexpected joy'.

Because the Federal Reserve has repeatedly emphasized that they would consider lowering interest rates only when 'inflation falls' or 'the labor market weakens'. And this set of weak data fits perfectly with Trump's intentions.

Interestingly, Federal Reserve Governor Adriana Kugler immediately announced her resignation. Although her term doesn't end until January next year, her 'early exit' at this time has sparked endless speculation in the market. Trump even publicly celebrated: 'I’m glad to find a new candidate for this position.'

Combined with his recent comments about Powell—

'Too dull, too politicized, a complete loser'

It is not difficult to see that Trump is trying to gradually 'cleanse' key figures in positions that obstruct his policy goals.