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TT Trump dismisses the director of the Bureau of Labor Statistics after the agency released poor employment data.
Just a few hours after the report showed weak job growth, Trump directed his team to fire Erika McEntarfer - head of the Bureau of Labor Statistics.
Mr. Trump accused Ms. McEntarfer - who was appointed by Biden - of having distorted many figures before the election to help Kamala Harris. Now Trump suspects the figures have been falsified to tarnish his and the Republican Party's image.
The job report yesterday from this agency showed that the number of jobs increased by +73,000 in July, and the two previous months were revised down by nearly -260,000. Over the past three months, the average job growth has been low at 35,000 – the worst since the pandemic.
However, many experts believe that the data that Trump considers to be a shock is actually beneficial for his argument to cut interest rates. Because the FED will only lower rates if inflation sustainably decreases to the target level of 2% or if the labor market weakens.