Trump Moves to Replace Fed and BLS Chiefs Amid Economic Shake-Up, Crypto Market Rallies
President TRUMP is swiftly replacing key economic leaders, backing a pro-rate-cut agenda as markets anticipate a September cut with 80% probability. Cryptocurrencies surged on the news, capitalizing on growing momentum.
Two vacancies emerged Friday: Federal Reserve Governor Adriana Kugler resigned unexpectedly, while Bureau of Labor Statistics Commissioner Erika McEntarfer was fired over disputed jobs data. "We had no confidence. The numbers were ridiculous," Trump stated, citing 258,000 downward revisions in May and June job figures.
New appointments for both positions are expected within days. The crypto market reaction highlights digital assets' sensitivity to monetary policy shifts, with traders interpreting the shake-up as bullish for risk assets.
