Washington (AP) – Chairman Donald Trump Unexpected journalists were called to the Oval Office on Thursday to introduce them to the chart to say that the American economy is solid after a report of a job last week that raised and led red flags and led. Republican firing Head of Bureau of Labor Statistics,
Stephen Moore was to join Trump to talk about the economy, a senior visiting Fellow in Economics at Heritage Foundation, a conservative think tank and co-writer of the 2018 book “” the co-writer of the book “”. Trumponomics,
Flipping through a series of charts on a portrait, Moore demanded to increase Trump’s performance as President and reduce former President’s economic track record Joe BidenTrump stood next to Moore and intervened with approval.
The moment of the Oval Office spoke to the President’s expectations to reset the story American economyWhile the stock market has been solid, the increase in job has become sluggish and inflation pressure has increased in view of Trump Apply a huge set of new tariffsWhich are taxes on imports.
Moore said he called Trump because he put some figures together which shows that he was right to dismiss Erica Mechantarf As head of BLS. He said that because BLS reports had reduced the number of jobs made during the last two years of Biden’s tenure to 1.5 million.
“I think he did it deliberately,” Trump said, who has so far offered statistical evidence supporting his principle. Amendment is a standard component of jobs reports and is larger during the period of economic disruption.
The economy has rarely turned into conformity with the craze of any president, often offering pictures that are much more mixed and fine that can be easily sold to voters. Through the first seven months of this year, employers have added 597,000 jobs, about 44% below the profit during the same period in 2024.
July job reports Showed that only 73,000 jobs were added last month, while the yogas of May and June were revised below 258,000.
While Biden faced amendment down on the number of his job, the economy added 2 million jobs in 2024 and 2.6 million in 2023.
The fundamental challenge in Biden’s economy was a shock of inflation as the annual rate of the Consumer Price Index hit a four -decade high in June 2022. That level of inflation felt several houses, such as grocery items, gasoline, housing and other imperatives were ineffective, a feeling that helped Trump to return to the White House in the 2024 election.
There are signs of inflation being heated under trump due to their tariff. On Thursday, Goldman Sachs It was estimated that the upcoming inflation report for July would show that consumer prices increased by 3% in the last 12 months, which would be above 2.3% reading in April.
Trump promised that he could galvanize a boom. And when nonpartison data has indicated some close to a disturbance, he found a lawyer in Moore, which he nominated to serve as the Federal Reserve Governor during his first term. Moore withdrew her name after facing pushbacks in the Senate.
Moore said that through the first five months of Trump’s second term, that is “adjusted for the average domestic income inflation and average family in the US, already $ 1,174.” Moore said that his number is based on unpublished census Bureau Data, which can make them difficult to verify independently.
“This is an incredible number,” said Trump. “If I had said this, no one would have believed it.”
Josh Bok, Associated Press