Tuesday, 14 August, 2018

G7 attacks Trump plan for tariffs that 'put United States economy in jeopardy'

Trump appears to comment on jobs report before its official release Trump flouts federal rule with tweet touting job numbers | TheHill
Cristina Norman | 04 June, 2018, 07:58

About an hour before the Labor Department released its closely watched jobs number Friday, President Donald Trump was already talking up the results.

In March of past year, then-White House press secretary Sean Spicer ran afoul of the directive when he took to Twitter 22 minutes after the Bureau of Labor Statistics had released the jobs report for the previous month to tout that the 235,000 net jobs gain and the slight decline in the unemployment rate were "great news for American workers".

"Looking forward to seeing the employment numbers at 8:30 [12:30 p.m. GMT] this morning", Trump said in a Twitter message at 7:21 a.m. local time.

The White House's Council of Economic Advisers briefs the president on the jobs numbers the afternoon before they are released.

Kudlow told reporters that the president did not reveal the details of the report and said it was no big deal that he tweeted a preview of its release.

Former White House Press Secretary Sean SpicerSean Michael SpicerTrump bragged to Obama about size of his rallies in meeting after Election Day: book NYT corrects crowd size estimate at Nashville rally after Trump criticism Spicer: Kim gets "everything he wants" by sitting down with Trump MORE also broke the rule in March of that year by tweeting praise for the February jobs report, Trump's first as president. Treasury yields rose after the tweet and ahead of the jobs report.

Still, some on Wall Street downplayed the ultimate impact of Trump's early allusion to the report.

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.

But it led to an outcry from Democrats and Republicans, particularly veterans of past White House teams, who said the restrictions in place are meant to both prevent the politicization of these reports and leaks of market-moving information.

Last month, Trump bragged about classified military strikes in Syria during a private fundraiser with high-dollar donors in midtown Manhattan, according to news reports.

Former chairman for President Obama's Council of Economic Advisers Jason Furman told ABC News the Obama administration "absolutely interpreted [the Labor Department rule] as applying" to the president himself.

A booming jobs report and signs the economy is expanding at a healthy pace despite global trade disputes proved too much for President Trump to keep quiet about Friday.

"I don't think he gave anything away, incidentally", Kudlow added.

Austan Goolsbee, who served on the Council of Economic Advisers during the Obama administration, suggested President Trump's tweet may have been illegal.

When the report was officially released, the jobs market showed a strong growth.

The jobs report is the most significant economic data the government releases each month, with data on the state of the labor market, including wages and the unemployment rate.

To many traders it was clear that Trump was signaling the numbers would be good.

But the same rule also says they employees shouldn't comment publicly on the data until at least an hour after release - a regulation Trump has routinely flouted on social media.

Kudlow said on CNBC.

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