Trump economy should ease trade war fears, Peter Navarro says

Trump economy should ease trade war fears, Peter Navarro says

Trump economy should ease trade war fears, Peter Navarro says

Trump tweeted Friday morning that he was "looking forward to seeing the employment numbers at 8:30 this morning", one hour and nine minutes before the Bureau of Labor Statistics released the highly anticipated data.

The Bureau of Labor Statistics announced that 223,000 jobs were created in May, beating expectations, and that the unemployment rate had fallen to 3.8 percent.

Rules stipulate that no federal worker is allowed to comment on the jobs report until at least one hour after its release.

Jason Furman, who served as chairman of the Council of Economic Advisers during the Obama administration, said this data has remained closely guarded for years, with many Cabinet members even shielded from the information until it becomes public.

In the span of time between when Trump posted his tweet and when the jobs report was released, USA treasury yields shot up.

The yield on the 10-year Treasury note, which moves in the opposite direction of price, was at 2.885% at the time of Trump's tweet, The yield quickly moved up to 2.895% after the tweet, and climbed as high as 2.922 after the official release of the jobs report. The tweet certainly suggested that a good number was coming. Most jobs reports are released on the first Friday of each month.

Chris Lu, the former deputy Labor secretary during the Obama administration, explained the outrage.

It's been a while since one of President Donald Trump's tweets made economic news, but today he kind of scooped the rest of the government.

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.

Top North Korean official arrives in NY for talks with Pompeo
Kim Yong Chol, one of Kim Jong Un's closest aides, is the highest-ranking North Korean official to visit the U.S. in 18 years. Separate meetings are being held in Singapore to discuss logistics such as the shape of the table and protocol issues.

Critics blasted him, saying that tweet was a hint that the jobless numbers would be good, and that hint could have swayed the markets.

"Of course he knew", Kudlow said in an interview Friday. "The advance info is sacrosanct - not to be shared". 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.

He has championed the data since becoming president, though, particularly when it reflects strength.

Martha Gimbel, director of economic research at Indeed, the job-listing site, said some of the fastest-growing search terms on the site this year are "full-time" and "9-to-5 jobs", evidence that many people want more work hours.

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.

Trump's supporters revere this mold-breaking approach, but it has created an environment in which information that has always been closely held by the government is now fair game for Trump to reveal through a Twitter post or a casual remark.

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

Trump, like all presidents, got briefed on the jobs figures Thursday evening. That was higher than the growth of 188,000 positions that economists had expected.

Trump has tried to tie the success of his presidency to the success of the economy.

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