President Donald Trump announced he will reveal appointments for a new Federal Reserve board member and a new employment statistics official within the coming days. These appointments could impact his economic agenda amid concerns about the global economic growth trajectory.
Trump made these remarks to reporters on Sunday while returning to the White House from his weekend stay in Bedminster, New Jersey. He has faced criticism for his continued attacks on the Federal Reserve and for dismissing Bureau of Labor Statistics Commissioner Erica McKentaffer following weak employment growth data—moves seen as undermining institutions typically considered independent from political influence.
Regarding the Federal Reserve, Trump stated he has "several people in mind" to fill the Fed board seat vacated by Adriana Kugler, who announced her departure on Friday. The position was originally set to expire in January next year. Kugler's departure gives Trump an earlier-than-expected opportunity to appoint a board member more aligned with his preference for lower interest rates.
National Economic Council Director Kevin Hassett, former Fed board member Kevin Walsh, current Fed board member Christopher Waller, and Treasury Secretary Scott Bessent are all considered potential candidates for Fed chair. The new board member nominated by Trump could potentially succeed Jerome Powell when his term expires next May.
Kugler's departure comes as the White House applies unprecedented public pressure on the Federal Reserve regarding interest rates, with Trump frequently making personal attacks against Powell. Trump has called the Fed chair "too angry, too stupid, too political" for consistently refusing to vote for rate cuts and has demanded Powell's resignation.
At the Bureau of Labor Statistics, Trump dismissed McKentaffer hours after the release of a weak jobs report that was based partly on significant downward revisions to May and June data. Her dismissal drew criticism from her predecessor, who called it an unjustified action.
"This is destructive," said William Beach, who served as the bureau's commissioner during Trump's first term, appearing on CNN's "State of the Union" on Sunday. "I think this firing was without cause."
Beach noted that research shows the agency's data is more accurate now than it was twenty or thirty years ago, including any revisions to initial data. Nevertheless, he said he would trust future Bureau of Labor Statistics data because the people working at the agency are "the most dedicated Americans you can imagine," making it "the finest statistical agency in the world."
McKentaffer had previously been confirmed by the Senate in a bipartisan vote of 86 to 8. Vice President JD Vance, who was then a senator, voted in favor of her nomination.
Hassett, appearing on Fox News and NBC's "Meet the Press" on Sunday, argued that significant revisions to employment data lacked adequate explanation, justifying the need for "fresh eyes" to examine the Bureau of Labor Statistics.
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