Donald Trump's preview of jobless report draws criticism

Donald Trump's preview of jobless report draws criticism

Donald Trump's preview of jobless report draws criticism

President Donald Trump talks to reporters as he boards Air Force One to depart for a trip to Houston and Dallas, Texas, from Joint Base Andrews in Maryland, May 31, 2018. Government officials have traditionally kept that information very confidential before it is released by Treasury.

President Trump got a scolding on social media Friday for tweeting his excitement about the government's latest jobs report more than an hour before the good news was released to the public.

"Looking forward to seeing the employment numbers at 8:30 this morning", Trump tweeted.

The peso sank in May to a 15-month low and a tight US labor market should support "solid" remittances in the near term, Goldman Sachs said in a report. As I understand it, it is generally a small group of people who receive this information, such as the Chief of Staff, Treasury Secretary, the head of the President's Council of Economic Advisers, and, of course, the President himself.

"It is not a trade war, it is a discussion", Kudlow told CNBC News.

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Domestic prices of petrol and diesel are near all-time highs, putting pressure on the government to bring down taxes on the fuels. "The GDP numbers for 2017-18 marginally overshoots the advance estimates of GDP released earlier this year".

"1985 federal directive on #JobsReport states: "employees of the Executive Branch shall not comment publicly on the data until at least one hour after the official release time".

"He chose to tweet", Kudlow said, asserting that Trump had followed both the rules and past practices.

Trump's decision to seemingly pimp out the job numbers before they were officially released is controversial because it could result in traders taking advantage on positive data that is exclusive to the executive branch. "He likes to tweet", Kudlow told Fox Business.

The Trump administration is examining ways USA industries might hire more immigrant workers on a temporary basis, White House economic adviser Larry Kudlow said on Friday.

"It's market moving and it creates instability and uncertainty in markets", Furman said.

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A tropical storm warning is in effect for a stretch of coastline between Florida's Suwannee River and the Alabama-Florida border. If you get an alert on your WBRC First Alert Weather App. for flash flooding then you need to be very careful when traveling.

Larry Summer, former director of the National Economic Council, lamented how former President Bill Clinton and Barack Obama would have been in hot water had they commented on unreleased figures. Ari Fleischer, who served as press secretary to President George W. Bush, said of Trump's post: "This certainly was a no-no. The advance info is sacrosanct - not to be shared", he wrote.

Still, some on Wall Street downplayed the ultimate impact of Trump's early allusion to the report. "As has been said so many times by the president's supporters as well as his critics, this is another case where it would be better for President Trump would be wise to spend his time doing something other than tweeting".

But Mr. Trump, who was briefed on the numbers Thursday evening, appeared to foreshadow the strength of the latest report on Friday morning on Twitter. While "markets are always trying to get an edge", investors who responded to every one of the president's tweets "probably would have lost money", he added. They're required to wait at least an hour, a rule Trump has broken already. "Unlikely that there will be a reprimand or any kind of official reaction; the issue will fade within a day or two, but next month's report will get more attention than usual". The direction those numbers take on any given day can move the markets for stocks and bonds alike in significant directions, especially if they diverge significantly from what analysts and traders were expecting from those numbers.

Republicans in Congress showed no immediate interest in looking into Trump's handling of economic data.

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