Trump Replaces Fed and BLS Chiefs as Crypto Market Surges

President Donald Trump is moving quickly to shake up key economic positions. Fed Governor Adriana Kugler resigned unexpectedly, while BLS Commissioner Erika McEntarfer was fired after a weak July jobs report. Trump accused her of manipulating data and promised to bring in more "honest, pro-growth" replacements.

Kugler’s resignation opens a crucial seat on the Federal Reserve, giving Trump an opportunity to shift monetary policy in favor of interest rate cuts. Potential successors include Kevin Hassett, Kevin Warsh, Scott Bessent, and Christopher Waller.

With the probability of a September rate cut rising above 80%, the financial markets are reacting strongly. Trump’s repeated criticism of Jerome Powell and his push for more aggressive easing suggest a significant change ahead.

As a result, the crypto market has rallied to a $3.83 trillion valuation. Bitcoin is up over 1%, while Ethereum, XRP, and Cardano have jumped 3–5%. Investor sentiment is also buoyed by progress in U.S.–E.U. trade talks, boosting optimism across global markets.