President Donald Trump is preparing to shake up the Federal Reserve by announcing a new governor soon, following the early resignation of Fed Governor Adriana Kugler. Trump's move aims to influence Federal Reserve policy amid his strong criticism of current Fed Chair Jerome Powell for maintaining high interest rates. Trump has accused Powell of being "too angry, too stupid, and too political" and has pushed for lower rates to stimulate the economy.
Alongside the Fed appointment, Trump has also fired the Bureau of Labor Statistics Commissioner, Erika McEntarfer, over allegedly manipulated jobs data, and plans to name a new chief statistician soon.
This shakeup comes at a time when Trump demands the Fed “assume control” if Powell continues to resist lowering rates, reflecting tensions between the White House and the central bank. The new appointments could signal a shift towards Trump-aligned monetary policies focused on easing rates to support economic growth.
In summary:
Trump's Fed shakeup includes nominating a new governor upon Kugler’s early departure.
He criticizes Powell's rate-hike stance, pushing for lower interest rates.
Moves coincide with firing of the BLS Commissioner and plans to appoint a new jobs data head.
The shakeup is part of Trump’s broader effort to sway U.S. monetary policy amid economic uncertainties.
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