"Sen. Elizabeth Warren isn't a fan of President Donald Trump's idea to end quarterly earnings reporting requirements. "It undermines transparency," the Massachusetts Democrat said in an interview with Yahoo Finance on Tuesday night. "That is the whole point here." As of now, the Securities and Exchange Commission requires publicly traded companies to report their earnings on a quarterly basis, meaning every three months."
"Warren argued that Trump is floating the change because he doesn't "want real numbers reported in any of the economic areas, because he knows he's in trouble on the economy." She also mentioned Trump's firing of the Bureau of Labor Statistics commissioner after a disappointing July jobs report. "This is the standard Donald Trump trick, and that is, if you don't like the numbers, then try to get them out of sight," Warren said. "And that's what he's trying to do.""
"In a statement to BI, White House spokeswoman Taylor Rogers did not address Warren's comments directly, instead taking a swipe at Warren's previous identification as a Native American. "The last person who should be giving advice on SEC requirements is Pocahontas," Rogers said. "She couldn't even tell the truth about her own background!" Companies have reported earnings on a quarterly basis in the United States since 1970."
President Donald Trump proposed relaxing SEC quarterly earnings reporting to every six months, saying it would save companies money and encourage long-term thinking. Senator Elizabeth Warren criticized the proposal as undermining transparency and suggested the change aims to hide unfavorable economic data, citing Trump's firing of the Bureau of Labor Statistics commissioner after a weak jobs report. The White House spokeswoman responded by attacking Warren's past identification as Native American. Public companies have reported earnings quarterly in the U.S. since 1970, while the EU moved to biannual reporting in 2015. Experts remain conflicted about the proposal's impacts.
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