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Trump Gets Chance to Tilt Fed With Governor's Resignation
The Straits Times
|August 04, 2025
He Will Get to Name Replacement, Who Will Likely Support Drive for Lower Interest Rates
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NEW YORK — US President Donald Trump got some bad economic news on Aug 1, and responded by shooting the messenger.
Mr. Trump fired Ms. Erika McEntarfer, head of the Bureau of Labor Statistics (BLS), hours after a report that showed a dramatic slowdown in US hiring, which sent markets tumbling. It is an escalation of his campaign against economic institutions long held to be above partisan politics — one that until now has principally targeted the US Federal Reserve.
And Mr. Trump got an unexpected opportunity that same afternoon to exert more influence at the central bank, when Governor Adriana Kugler announced her imminent resignation as investors were still digesting the jobs numbers and the BLS news. He will get to name a replacement, likely one who is inclined to support his drive for lower interest rates.
This story is from the August 04, 2025 edition of The Straits Times.
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