Markets

Trump Keeps Promise as Manufacturing Jobs Soar

Trump Keeps Promise as Manufacturing Jobs Soar

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 this morning", Trump tweeted.

Kudlow said Friday that Trump didnt breach this prohibition because he didnt reveal the precise numbers in the jobs report, only telling people on Twitter that he was "looking forward" to its release.

With a tantalizing tweet, President Donald Trump seemed to tease a positive jobs report on Friday, a protocol-defying step that moved markets and raised questions about the appropriateness of the president publicly hinting at information that could make or lose fortunes. Bloomberg News data also showed that the value of the US dollar moved sharply higher after the Twitter post compared with previous trades the mornings jobs data are released.

"He chose to tweet, his tweet basically said like everybody else we await the job numbers". "There wasn't a reaction beyond the markets' reactions to other (Trump) tweets", he said. They appear to have read Trump's tweet correctly. The US "needs to choose between tariffs and exporting more to China".

Larry Summers, the Treasury secretary under President Bill Clinton and director of the National Economic Council under Obama, said a similar statement under those Democratic presidents "would have been a major scandal - with all sorts of investigations following on".

Former White House economists from President Barack Obama's administration took to social media to argue Trump's tweet had upended decades of precedent and likely violated regulations about the handling of classified data.

It's obvious that Trump - who last month made explicitly clear that for him, all news that casts him in a negative light is "fake news" - wouldn't have posted such a tweet if the forthcoming jobs report didn't reflect positively on him.

When the report was officially released, the jobs market showed a strong growth. "And if this tweet is conveying inside information about a particularly good jobs number you should never get them in advance from the Council of Economic Advisers again".

The May jobs report was in fact a good one for a president who likes to brag about the strong jobs market.

"It's possible. I don't think it has right now", Kudlow continued.

President Donald Trump's top economics adviser acknowledged Sunday the trade dispute with U.S. allies could jeopardize the booming American economy but dismissed criticism of the administration's stance as overblown.

The Trump administration said on Thursday it was moving ahead with tariffs on aluminum and steel imports from Canada, Mexico and the European Union, ending a two-month exemption and potentially setting the stage for a trade war with some of America's top allies, Reuters said.

"This certainly was a no-no".

A CNN political commentator reminded his followers that this is not the first time that President Donald Trump violated the directive.