Trump caused the BLS head to the stock market drop

US President Donald Trump said that the head of the agency, who has been accused of publishing some of the most closely viewed financial statistics, would shoot, as there is another alarm about his rate strategies in a weak job report more than expected.

In a position on social media, Trump – without evidence – Commissioner Erica McCenter accused of manipulating job statistics for political reasons.

The decision was shocked by the Wall Street and at that time the alarm about interfering with the financial statistics of the White House increased, when many estimates estimate Trump’s rates, the economy will be disturbed.

This happened when Trump moved forward with plans to raise prices on goods around the world, the global stock market was shaking.

In the United States, three major indexes in the United States came down due to the closure of SP PD P by 5.6%.

Ryan Sweet, the chief American economist of Oxford Economics, said the decision to remove the Bureau of Labor Statistics (BLS) commissioners was the subject of high-quality financial data for businesses and not easily replicated with private sources.

“Clearly, this is a step in a very bad direction,” he said. “If there are questions about the integrity of the data … this will create a lot of problems.”

Trump has rejected anxiety for his rate plans, which he says that the product in the United States will boost and the balance of global trade will increase.

But this week’s string of new data and updates of companies on tariff costs has made it more difficult to ignore those estimates.

On Friday, the labor statistics Bureau reported that employers in the United States added only 000 73,3 jobs in July. It was also dramatically modified in the improved estimates of employment growth in May and June, recording 250,000 less employment than previous thoughts.

When the decision to remove Ms. McCenter, Trump mentioned these repetitions.

“We need accurate job numbers. I have directed my team to immediately remove this biden political appointment,” he wrote on social media.

Heads of the Labor Department monitoring BLS wrote on social media that Deputy Commissioner of Agency William Vetrovesky will step in this role in search of replacement.

The labor department did not respond immediately to the comment request. As new data arrives, BLS improves the number of jobs every month, usually adds or subtract ten thousand places.

Although this month’s change is significant, the analysts said the updates are compatible with other data showing slowdown.

Some estimate that they can reflect the hit to small businesses, which are generally slow to respond to the survey and especially insecure to rates.

“Repeated are normal,” said Mr Sweet. “They are trying to get this claim.”

Before being nominated to lead the BLS in 223, Ms. McCenter worked for the government for more than 3 years. Later, the US Senate confirmed her unanimously.

Michael Strain, director of the financial policy study of the American Enterprise Institute on the right, defended Ms. Enterner and said she had done “great integrity”.

“The decision -makers need to understand that the government statistics are impartial and the highest quality. The President is damaging the United States by doubting it,” he wrote on social media.

Jade Kolco, senior colleague of Peterson Institute for International Economics, said the shooting has increased the serious alarm. The government has collected financial statistics with inflation information during the government’s expenditure deduction.

“For six months, I have said that there has been more collateral damage than intentional loss of financial statistics. No longer. The firing of the BLS heads is the five-fisherman of the United States of America’s economic statistics and the integrity of the entire statistical system,” he wrote on social media.

Trump defeated the decision and said that she had to go out to make sure that there are people who “we can believe in these positions.”

“Why should someone trust the number?” Leaving the White House on Friday, the President told reporters. “I believe that this number was stupid, as it was before the election and other times – then you know what I did? I removed her and know what I did? The right thing.”

These figures have been fighting while the Trump trade policy has been fighting and is hitting the world with new rates ranging from 10% to 50% of the world’s countries.

When Trump planned a similar plan in April, the US stocks caused more than 10% confusion, spreading the concern in the dollar and the bond market.

After postponing some very rigorous measures, he saved the stock market and left the less expected 10%. In recent weeks, indexes in the United States have been trading at all high levels.

Trump has the latest solutions compared to the first one in April, but at the beginning of the year, they will push the average rate approximately 17%.

“It is a reality that they encourage the fact that Trump returned to the market,” Free Markets ETF portfolio manager Michael Ged told the BBC’s early bell. “Now he is going to try his luck again.”

Shares in the United States opened less in the morning and the loss increased in the afternoon. The Sp PD P5 500 1.6%closed down, while Dow 1.2%and Nasdack fell down 2.2%.

France’s CAC closed down 40 2.9%, while German’s Dax fell 2.6%. In the UK, the FTTSE dropped 0.7%.

Earlier, the leading index in South Korea fell 3.8%, the Hong Seng index in Hong Kong dropped by 1%and Japan’s Nikkei fell 0.6%.

After the job report, Trump also launched another attack on Federal Reserve President Jerome Powell, who says he is moving slowly to reduce the loan prices.

The Powell leads the 12-individual committee that determines the interest rate policy of the Central Bank, which affects the interest rate of the economy.

On Friday, one of the members of the committee, RIRA Drya Kuner, whose term ended in January, said he would resign by giving Trump a new opportunity to install a new one.