President Donald Trump has announced plans to nominate a new Federal Reserve governor and a new head for the Bureau of Labor Statistics (BLS) in the coming days. The two appointments are expected to significantly influence his economic agenda at a time of growing concern over the global economy.
Speaking to reporters on his return to the White House from a weekend in Bedminster, New Jersey, Trump said he had “a couple of people in mind” to fill the Fed position vacated by Adriana Kugler. Kugler, whose term was set to expire in January, announced her early departure last Friday, giving the president an unexpected opportunity to install a Fed official more aligned with his views on interest rates.
Names circulating as potential candidates include National Economic Council Director Kevin Hassett, former Fed Governor Kevin Warsh, current Fed Governor Christopher Waller, and Treasury Secretary Scott Bessent. Trump’s nominee could eventually replace Jerome Powell as Fed Chair when his term ends in May.
Kugler’s resignation comes at a time of heightened pressure on the central bank, with Trump consistently criticizing Powell for not cutting interest rates. The president has publicly labeled Powell “too angry, too stupid, and too political,” and has called for his resignation.
In a separate move, Trump dismissed BLS Commissioner Erika McEntarfer just hours after the release of a disappointing jobs report that included downward revisions for May and June. The firing has drawn sharp criticism, including from William Beach, who led the BLS during Trump’s first term.
“This is damaging,” Beach said in an interview on CNN’s State of the Union. “I don’t know that there’s any grounds at all for this firing.” He added that despite the controversy, he still trusts the agency’s data, calling the BLS “the finest statistical agency in the entire world.”
McEntarfer had been confirmed by the Senate in a bipartisan 86–8 vote, with current Vice President JD Vance among those who supported her nomination.
Meanwhile, Kevin Hassett defended the decision to replace McEntarfer, saying on Fox News Sunday and Meet the Press that the recent jobs data revisions were poorly communicated and indicated a need for a “fresh set of eyes” at the agency.
These developments come as Trump seeks to assert greater control over key economic institutions, raising new questions about the independence of bodies historically insulated from political interference.
