logo
White House officials defend Trump's firing of BLS chief

White House officials defend Trump's firing of BLS chief

The Hill3 days ago
White House officials on Sunday defended President Trump's decision to fire the head of the Bureau of Labor Statistics (BLS) following a weak jobs report, a move that has sparked broad criticism.
'The president wants his own people there so that when we see the numbers, they're more transparent and more reliable,' Kevin Hassett, chair of the National Economic Council, said on NBC's 'Meet the Press.'
Hassett said in another interview on 'Fox News Sunday' that the BLS commissioner has a responsibility to explain major revisions such as the one seen in Friday's jobs report, which showed 258,000 fewer jobs for prior months than initially reported.
'The big downward revision is something of a puzzle. I don't think it was explained very well. And I think that markets might be as much unsettled by the fact that the data are so noisy,' Hassett said.
U.S. Trade Representative Jamieson Greer, one of Trump's top tariff negotiators, said in an interview that aired on CBS's 'Face the Nation' Sunday that the president has 'real concerns' about the jobs numbers reported by the Labor Department.
'Even last year during the campaign, there were enormous swings in the jobs numbers, and so sounds to me like the president has real concerns. You know, not just based on today's, but everything we saw last year,' Greer said in the interview taped on Friday.
'You want to be able to have somewhat reliable numbers,' he added. 'There are always revisions, but sometimes you see these revisions go in really extreme ways. And it's, you know, the president is the president. He can choose who works in the executive branch.'
Trump on Friday directed his team to fire BLS Commissioner Erika McEntarfer after the latest jobs report showed the country only adding 73,000 jobs in July, and major revisions for jobs added in May and June.
The move prompted immediate outcry from Democrats and a handful of Republicans, with some calling for an investigation.
McEntarfer was nominated by former President Biden and overwhelmingly confirmed by the GOP-led Senate early last year in an 86-8 vote.
Trump's advisers underscored the president's concerns about revisions to the labor data while defending McEntarfer's firing.
Hassett noted that jobs data reported by the government has seen major swings since the COVID-19 pandemic.
'What we've seen over the last few years is massive revisions to the jobs numbers. In fact, they were extremely reliable, the kind of numbers that you want to guide policy decisions and markets, through COVID. And then when COVID happened, because response rates went down a lot, then revision rates skyrocketed. So the typical monthly revision often was bigger than the number itself,' Hassett said on NBC.
Trump, in axing the BLS chief, claimed without evidence that McEntarfer 'faked the Jobs Numbers' before the 2024 election in order to boost former Vice President Kamala Harris's White House bid, citing labor statistics revisions during the Biden administration that boosted job numbers ahead of the election.
The president accused her of manipulating data to make him and Republicans look bad, writing on Truth Social on Friday, 'She will be replaced with someone much more competent and qualified. Important numbers like this must be fair and accurate, they can't be manipulated for political purposes.'
McEntarfer reacted to Trump's firing of her in a social media post over the weekend, saying it was the 'honor of my life' to serve in the role and hailing the 'vital and important work' carried out by civil servants at the agency.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Rivian, Lucid Brace for a Rough Ride as EV Headwinds Intensify
Rivian, Lucid Brace for a Rough Ride as EV Headwinds Intensify

Yahoo

time6 minutes ago

  • Yahoo

Rivian, Lucid Brace for a Rough Ride as EV Headwinds Intensify

Rivian (RIVN, Financials) and Lucid Group (LCID, Financials) are warning that the rest of 2025 will be bumpy; policy changes, trade tensions and supply?chain snags are putting pressure on electric?vehicle makers. Rivian shares slid about 4% after hours; Lucid fell roughly 7%. Warning! GuruFocus has detected 5 Warning Signs with RIVN. The Trump administration has reshaped the EV landscape ending consumer tax credits; imposing steep tariffs on imported auto parts; and scrapping emission fines for gas?vehicle makers. China's tighter export limits on heavy rare earth metals critical for EV motors have only made things worse; supply chains are straining under the weight. For Rivian, that's meant higher costs and shrinking side income from selling regulatory credits. The company now expects a deeper adjusted core loss of $2 billion to $2.25 billion this year; that's up from its prior $1.7 billion to $1.9 billion range. Per?unit costs jumped 8% to about $118,375; lower production added roughly $14,000 per vehicle. A three?week production pause in September will prepare its lower?priced R2 SUV for a 2026 launch; management says the model is key to reaching a wider audience. Lucid avoided the worst of the rare?earth crunch by tapping into existing magnet inventory; still, tariffs have eaten into margins. The luxury EV maker cut its annual production goal; it also warned of softer demand in Q4 once the $7,500 federal tax credit expires at the end of September. Analysts expect a rush of Q3 sales as buyers race to lock in the incentive; the risk is that the pull?forward leaves a hole later in the year. This article first appeared on GuruFocus.

Trump says semiconductors will face 100% tariff unless companies build in US
Trump says semiconductors will face 100% tariff unless companies build in US

Yahoo

time6 minutes ago

  • Yahoo

Trump says semiconductors will face 100% tariff unless companies build in US

President Trump said that he will implement a 100% tariff on semiconductors manufactured overseas unless the companies have committed to build in the US. Trump made the announcement during a press event in the Oval Office alongside Apple (AAPL) CEO Tim Cook who was on hand to unveil an additional $100 billion investment in research and manufacturing in the US. "The good news for companies like Apple is, if you're building in the United States, or have committed to build, without question, committed to build in the United States, there will be no charge," Trump said. The semiconductor tariff is a part of the Trump administration's Section 232 national security investigation into chip manufacturing. According to Trump, if a company says it will build in the US, but doesn't, it will once again face tariffs as well as back tariffs. The tech industry has been waiting on tenterhooks to find out what semiconductor tariffs would look like, and whether they would apply to individual semiconductors or to chips built into devices. Additional tariffs could drive up the price of everything from smartphones and laptops to home electronics and more. Apple also is also expected to dodge Trump's newest tariffs on India, which could reach as much as 50% in three weeks, with a White House official saying that the company wouldn't have to deal with the bulk of the tariffs. Email Daniel Howley at dhowley@ Follow him on X/Twitter at @DanielHowley. Sign in to access your portfolio

Trump Sons Launch $300M SPAC Hunt -- Eyes on American Factories
Trump Sons Launch $300M SPAC Hunt -- Eyes on American Factories

Yahoo

time6 minutes ago

  • Yahoo

Trump Sons Launch $300M SPAC Hunt -- Eyes on American Factories

Donald Trump Jr. and Eric Trump are back in the business spotlightthis time with a $300 million SPAC aiming to scoop up a U.S.-based manufacturer. The blank-check company, New America Acquisition I Corp., disclosed in a securities filing that it's hunting for a deal in the manufacturing space, initially highlighting targets that could benefit from federal or state incentives like grants or procurement programs. That language was later removed from the filing after questions surfaced over possible conflicts of interest, given the Trumps' involvement. Warning! GuruFocus has detected 4 Warning Sign with DJT. The deal structure gives both brothers a significant financial interest. Eric Trump holds 3 million founder shares; Donald Trump Jr. holds 2 million. The SPAC's advisory board also features Kyle Wool, president of Trump Tower-based Dominari Holdingsan investment bank tied closely to the Trump Organization. This is one of several business ventures the Trump sons have recently taken on, spanning drones, crypto, and conservative mediasectors with deep regulatory exposure. Their growing footprint has drawn political scrutiny, though the Trump family has pushed back on any conflict-of-interest concerns. This isn't their first SPAC rodeo. Trump Jr. recently backed GrabAGun Digital Holdings, which just went public through a similar vehicle. And Trump Media & Technology Group (NASDAQ:DJT)the parent of Truth Socialalso completed a SPAC merger earlier in 2024. President Donald Trump holds a major stake in that firm via a trust overseen by Trump Jr., a position that now represents nearly one-third of his estimated $6.4 billion net worth, according to Bloomberg. Whether New America Acquisition I Corp. lands a headline-making deal remains to be seenbut the playbook looks familiar. This article first appeared on GuruFocus.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store