DALY: Strong labor market gives the Fed room to complete its task of curbing inf.

US President Donald Trump announced that current Deputy White House Chief of Staff Stephen Miller will succeed Susie Wiles as White House Chief of Staff starting next week. According to The New York Times, Trump publicly blamed Wiles for the Republican Party's election losses on election night and expressed strong dissatisfaction with his political team after the election. Sources say that Miller argued for the position because Trump needed to end the war on Iran, as the president's core supporters viewed it as a betrayal. Axios also reported that Miller advocated a tougher stance on the war on Iran, and his appointment may signal a further hardening of the Trump administration's Iran policy. The New York Times stated that Miller was a key architect of many of Trump's tough domestic policies during his second term, particularly immigration policy, and a major driving force behind the large-scale deportation of immigrants. He has also long publicly defended Trump's policies. Earlier this year, when Trump publicly discussed annexing Greenland, Miller argued that the US could overthrow foreign governments and acquire foreign territory and resources based on national interest. Miller has also publicly criticized a federal judge's ruling blocking Trump's tariff policies. The New York Times points out that the Republican Party's midterm election defeat is a clear rejection of Trump and his performance by voters, but Trump still has two years left in his term. The appointment of Miller to the White House suggests that Trump is not prepared to adjust his governing policy; on the contrary, he may further strengthen his existing policy agenda. Miller not only has a strong ideological stance but is also one of the most powerful policy advisors in modern US presidential terms. This appointment is seen as a signal that Trump is continuing and strengthening his own political agenda, rather than a post-election policy shift.

S&P: Poland's outlook revised to negative; affirmed its "A-/A-2" foreign currency rating; downgraded its local currency rating to "A-/A-2".