President Donald Trump has dismissed the head of the federal statistics agency following the release of a disappointing jobs report, a move that underscores his growing influence over economic policymaking. The decision comes amid Trump’s efforts to reshape the Federal Reserve and assert greater control over key institutions steering U.S. economic policy.
The surprise firing followed a July jobs report that revealed a weakening labor market, sparking criticism from Trump, who blamed “poor data oversight” for eroding public confidence in the numbers. By removing the agency’s chief, Trump not only signals his dissatisfaction with official reporting but also positions himself to appoint loyalists more aligned with his economic agenda.
This shakeup also gives Trump a broader opportunity to exert influence over the Fed, which is already facing pressure to cut interest rates in response to slowing job growth. Analysts warn that Trump’s moves could intensify concerns over the independence of critical economic institutions.
“Replacing top officials and reshaping the Fed would give Trump an unprecedented role in directing monetary policy,” said one economist. “It’s a shift that could have profound implications for markets and the broader economy.”
As Trump consolidates his economic influence, markets remain on edge, bracing for more aggressive interventions that could redefine the traditional boundaries between politics and central banking.
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