President Donald Trump removed Bureau of Labor Statistics Commissioner Erika McEntarfer hours after Friday’s employment report showed the economy added just 73,000 jobs in July and revised May and June payroll gains down by a combined 258,000. Trump, who called the figures “ridiculous,” said he will name a replacement within days. The dismissal drew swift criticism from economists and market strategists. JPMorgan warned the action “presents risks to monetary policy and financial stability,” while Goldman Sachs said it could further erode confidence in U.S. data and pressure the dollar. Bank of America CEO Brian Moynihan urged reforms to make labor statistics more reliable, and former BLS officials called for congressional scrutiny. White House advisers defended the move, insisting fresh leadership is needed after the large revisions. Markets largely welcomed the weaker data itself, interpreting it as increasing the likelihood of Federal Reserve easing. Prediction markets on Polymarket and other platforms now assign roughly an 80%-90% chance the Fed will cut rates at its 17 September meeting, up from about 40% before the jobs release. The CME FedWatch tool shows similar odds for a 25-basis-point move. U.S. equity futures jumped at Monday’s open, lifting the S&P 500 about 0.7% and driving the Cboe Volatility Index back below 19. The dollar—after slumping on Friday—stabilised but remained softer, and Treasury yields held near lows set on the jobs shock. Traders are watching whether the credibility questions surrounding federal statistics affect forthcoming economic releases and the Fed’s policy calculus.