Trump Trade: Trump considering 11 candidates for Fed Chair

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly:

FED CHAIR: The Trump administration is considering 11 candidates to replace Federal Reserve Chairman Jerome Powell when his term ends in May, including Jefferies (JEF) Chief Market Strategist David Zervos, former Fed Governor Larry Lindsey, and BlackRock (BLK) chief investment officer for global fixed income Rick Rieder, according to CNBC‘s Steve Liesman, citing two unnamed administration officials.

MONTHLY JOBS REPORT: E.J. Antoni, The Heritage Foundation’s chief economist who was named by President Donald Trump to become the Commissioner of the Bureau of Labor Statistics, suggested to Fox Business ahead of Monday’s nomination the possibility of suspending the agency’s monthly jobs report, claiming that the underlying methodology, economic modeling, and statistical assumptions are fundamentally flawed. “How on earth are businesses supposed to plan – or how is the Fed supposed to conduct monetary policy – when they don’t know how many jobs are being added or lost in our economy? It’s a serious problem that needs to be fixed immediately,” Antoni told Fox Business. The economist will have to face Senate confirmation before taking the role at BLS, Fox Business said. The Fly notes that the nomination comes after Trump dismissed Erika McEntarfer, the agency’s previous commissioner, hours after the agency released disappointing monthly jobs numbers.

TARIFFS: President Donald Trump stated in a post to Truth Social, “Trillions of Dollars are being taken in on Tariffs, which has been incredible for our Country, its Stock Market, its General Wealth, and just about everything else. It has been proven, that even at this late stage, Tariffs have not caused Inflation, or any other problems for Country, other than massive amounts of CASH pouring into our Treasury’s coffers. Also, it has been shown that, for the most part, Consumers aren’t even paying these Tariffs, it is mostly Companies and Governments, many of them Foreign, picking up the tabs. But David Solomon and Goldman Sachs refuse to give credit where credit is due. They made a bad prediction a long time ago on both the Market repercussion and the Tariffs themselves, and they were wrong, just like they are wrong about so much else. I think that David should go out and get himself a new Economist or, maybe, he ought to just focus on being a DJ, and not bother running a major Financial Institution.”

As part of a message on tariffs, President Donald Trump added, “David Solomon and Goldman Sachs refuse to give credit where credit is due. They made a bad prediction a long time ago on both the Market repercussion and the Tariffs themselves, and they were wrong, just like they are wrong about so much else. I think that David should go out and get himself a new Economist or, maybe, he ought to just focus on being a DJ, and not bother running a major Financial Institution.”