President Trump said Sunday he plans to name a new Federal Reserve Governor and Bureau of Labor Statistics commissioner this week. Why it matters: The resignation of former Fed governor Adriana Kugler and Trump's firing of BLS commissioner Erika McEntarfer give the president the opportunity to appoint people more aligned with his administration's policies and pile further pressure on Fed Chair Jerome Powell.

Trump has launched a series of scathing attacks on Powell over his refusal to reduce interest rates. The president claimed that the central banker is "TOO ANGRY, TOO STUPID, & TOO POLITICAL, to have the job of Fed Chair" in a post on his Truth Social website on Thursday.

Kugler's resignation gives Trump an opportunity to at least partially shape the Fed's makeup to his liking ahead of her original departure date. Kugler, a Biden-appointed governor, joined the seven-member board in 2023 and was set to serve through January 2026.