Stock Traders Are No Longer Taking Employment And Inflation Data From The Trump Administration At Face Value - Above the Law
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Stock Traders Are No Longer Taking Employment And Inflation Data From The Trump Administration At Face Value - Above the Law
"I am not breaking news to anyone by pointing out that Donald Trump consistently disparages information that he thinks makes him look bad. Meanwhile, any data that he thinks casts him in a positive light is inevitably the greatest, the best, the most accurate data imaginable. Given that persistent inflation has been a chief national concern, it's no surprise that Trump has taken aim at members of the Federal Reserve's governing board for the grave crime of recognizing that inflation has remained stubbornly above the Fed's 2% target during the first year of Trump's second term."
"When it comes to the nation's monthly jobs report, Trump's astounding hyperbole dates all the way back to his first term. Suffice it to say, "the numbers are great" is among the tamest comments he's made about the job market while he's been in office, always regardless of the reality on the ground. Trump purged the Bureau of Labor Statistics in 2025, purportedly because they made too many large revisions of employment data, but the real message was clear: put out data that Trump likes or lose your job as a BLS bean counter."
Donald Trump consistently disparages information that makes him look bad while praising data that flatters him. He targeted Federal Reserve governors for noting inflation remained above the Fed’s 2% goal during the first year of his second term. He sought to remove Lisa Cook and threatened Jerome Powell with indictment over renovation spending. He has historically exaggerated job-market reports and dismissed unfavorable data. He purged the Bureau of Labor Statistics in 2025, signaling that only data he liked would be tolerated. Markets and observers have treated BLS data under Trump as unreliable, and the January 2026 jobs report intensified skepticism.
Read at Above the Law
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