Following a weak jobs report and a significant revision to the prior two months’ data, President Trump announced on Friday that he would fire Bureau of Labor Statistics (BLS) commissioner Erika McEntarfer immediately. On Sunday, Trump said he would announce the new BLS commissioner in the coming days.
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“Last weeks Job’s Report was RIGGED, just like the numbers prior to the Presidential Election were Rigged,” Trump said in a Truth Social post.
Trump Fires BLS Chief, Eyes Fed Shakeup
The market received a shock after July’s nonfarm payrolls (NFP) data showed 73,000 additions, well below the expectation for 110,000 additions.
Furthermore, Trump will select a new Fed Governor after Biden nominee Adriana Kugler unexpectedly announced her decision to step down. Kugler will return to Georgetown University in the fall as a professor. Her term as Fed Governor was set to expire in Jan. 2026.
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