President TrumpDonald John TrumpTrump tells Trudeau on NAFTA: US will agree to fair deal or "no deal at all" Dem senator suggests Trump "sending a message to witnesses" with pardons Kim Jong Un hasn't changed his stance on denuclearization: report MORE on Friday touted the monthly federal jobs report roughly an hour before the data was released, appearing to violate a government rule.
"Looking forward to seeing the employment numbers at 8:30 this morning", Trump tweeted this morning about an hour before 8:30 EST.
The Department of Labor reported at 8:30 a.m. that unemployment in the USA had dropped to its lowest level since 1969 as the economy added a higher-than-expected 223,000 jobs in May.
The rule further specifies that federal employees other than Labor Department staff charged with issuing the report can not publicly comment on the data for the first hour after the release time, let alone ahead of the report.
Still, Jason Furman, a Harvard Kennedy School professor who served on former president Barack Obama's Council of Economic Advisers as its chairman, called Trump out.
In the span of time between when Trump posted his tweet and when the jobs report was released, US treasury yields shot up. In August 2017, he tweeted, "Excellent job numbers just released" 15 minutes after a similarly upbeat report.
Former Obama and Bush administration officials noted Trump had appeared to break the federal protocol.
On Friday, Furman criticized Trump via Twitter about even hinting at the jobs report before the official release time.
Chris Lu, the former deputy Labor secretary during the Obama administration, explained the outrage.More news: US televangelist appeals for donations for $54 million private jet
Gold extended its declines, while bond yields moved higher after Trump's tweet.
Trump has made the roaring stock market a centerpiece of his administration and re-election campaign, though Wall Street has faced recent uncertainty due to the administration's saber-rattling over tariffs.
Kudlow defended the president's tweet across a series of subsequent media appearances Friday morning, arguing Trump didn't give anything away and that his remarks were open to interpretation. "The advance info is sacrosanct - not to be shared".
Kudlow said on CNBC. Globally, the USA government is considered a gold standard in terms of the quality and reliability of the information it releases - not a reputation worth trashing for a tweet.
The answer to this question is clearly that we can not be sure that this hasn't or wouldn't happen thanks to the fact that this President has already violated almost every other norm that applied in the past.
Second, there has been a strong effort to insulate this information from political leaders, as advance discussion of the data could make it seem politicized.
Some economists do remain concerned that the Trump administration's aggressive actions on trade could eventually hamper growth.
"President Trump's policies are having a tremendous positive impact on the lives of Americans of all classes and backgrounds". There are government procedures for officials who handle undisclosed numbers that require a delay of commenting until one hour after they're released.
During the 2016 campaign, when Trump, the Republican presidential nominee, and Hillary Clinton, the Democratic nominee, both became eligible to receive classified briefings, some intelligence officials also expressed reservations about sharing sensitive information with Trump.