Trump plans to nominate new members for the Federal Reserve Board and the Bureau of Labor Statistics in the coming days for two key positions, among which the Federal Reserve Board nominee may become Powell's successor (as his term as chairman ends in May next year).

• Regarding the Bureau of Labor Statistics: Trump previously fired Director McEntyre due to the downward revision of employment data for May-June, a move criticized by former directors for undermining the agency's independence. He will soon announce a new director nominee.

• Regarding the Federal Reserve: With Kugler resigning early, Trump has an earlier opportunity to nominate a supporter of low interest rate policies. National Economic Council Director Hassett, former Federal Reserve Governor Warsh, current Governor Waller, and Treasury Secretary Mnuchin are seen as potential candidates for the next chairman.

• Key impact: Kugler's departure could accelerate Trump's selection of the next Federal Reserve chairman. If he wants to nominate an outsider for the position, he needs to act quickly (since Powell's term as governor lasts until 2028, and if he does not resign, Trump may have limited opportunities for other nominations in the short term).

• Uncertainty: Trump has not yet confirmed his nominees, and the nominations require Senate confirmation, a process that may take months. Even if a new chairman is appointed, a majority vote from the Federal Open Market Committee is needed to adjust interest rates, which may not immediately change policy.