President Trump says he will name a new Federal Reserve governor and Bureau of Labor Statistics (BLS) chief this week after two major departures: Trump's firing of the BLS head over weak jobs data and Fed governor Adriana Kugler's resignation.

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.

Federal Reserve Governor Adriana Kugler announced Friday she is stepping down from her role at the central bank, creating an important vacancy at a time when President Donald Trump is pushing for lower interest rates.