Trump quickly replaced key economic positions, promoting a rate cut policy, boosting the cryptocurrency market.
Two key positions in the Federal Reserve and the Bureau of Labor Statistics have new personnel following significant changes, as the likelihood of a rate cut in September exceeds 80%, and the cryptocurrency market reacts positively.
MAIN CONTENT
Trump fired the head of the Bureau of Labor Statistics due to suspicions that employment data was manipulated.
The resignation of the Federal Reserve governor opens new opportunities for Trump to restructure the Fed.
The probability of a rate cut in September has risen above 80%, driving the cryptocurrency market's upward trend.
Why did Trump fire the head of the Bureau of Labor Statistics?
Trump fired Ms. Erika McEntarfer due to dissatisfaction with negative employment reports and claimed that the data was "manipulated," causing the market to lose trust. The downward adjustment of 258,000 jobs in May and June was the main reason he cited.
Trump stated that it was a "hoax" and asserted that his team could not trust these numbers. He later announced he would appoint new leadership in the coming days to improve the reliability of the data.
"We have no trust at all, the published numbers are truly ridiculous. In my opinion, this is a hoax."
Donald Trump, President of the United States, August 2025
How does the resignation of the Fed governor affect monetary policy?
Federal Reserve Governor Adriana Kugler unexpectedly resigned without clear reason, effective August 8, opening the opportunity for Trump to redirect Fed policy.
During her tenure, Ms. Kugler supported a cautious Fed under Chairman Jerome Powell. Her resignation is seen as a turning point that helps Trump push for interest rate cuts, aligning with market expectations.
According to Bloomberg, the leading candidates for the Fed governor position who could replace Powell include Kevin Hassett, Kevin Warsh, Scott Bessent, and Christopher Waller, all of whom are pro-growth economic supporters.
"Chairman Powell is too rigid, harming the economy with high interest rate policies. The Fed Board needs to act if he refuses to cut rates."
Donald Trump, President of the United States, August 2025, on Truth Social
What is the likelihood of a rate cut in September?
The CME FedWatch tool recorded the probability of a rate cut in the September meeting exceeding 80%. If Trump appoints a Fed governor who supports rate cuts, the Fed may change its economic stimulus policy.
This could provide abundant liquidity to the market, stimulate investment, and contribute to rising prices of financial assets, especially cryptocurrencies at this time.
Why is the cryptocurrency market experiencing a strong increase at this time?
The cryptocurrency market value has risen to $3.83 trillion, up 1.7% in 24 hours. Bitcoin fluctuated with a 1% increase, while Ethereum, XRP, and Cardano rose by 3–5%, further powering the green price trend.
Additionally, information about the temporary halt of trade retaliation measures between the United States and the European Union for six months has boosted investor confidence, creating a positive momentum for the entire cryptocurrency financial market.
Frequently Asked Questions
Why did Trump fire the head of the Bureau of Labor Statistics?
Trump believes that employment data has been repeatedly revised downward, causing him to lose all trust in the accuracy of the reports.
How does the resignation of the Fed governor affect monetary policy?
Open up opportunities to restructure the Fed and promote a more accommodative policy, especially the possibility of rate cuts in the near future.
What is the current probability of a rate cut in September?
According to CME FedWatch, the likelihood of a rate cut has surpassed 80%, marking an important turning point for economic stimulus goals.
Why has the cryptocurrency market increased recently?
Expectations of interest rate cuts and the agreement to temporarily halt US-EU trade retaliation measures have strengthened confidence and liquidity for cryptocurrencies.
Who does Trump plan to appoint to key economic positions?
Although not officially announced, he is considering candidates who favor rate cuts and promote growth.
Source: https://tintucbitcoin.com/crypto-tang-manh-vi-trump-doi-lanh-dao/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news on the cryptocurrency market and not miss any important information!
