Trump draws the head of BLS as prices cause a drop in the stock market market

US President Donald Trump said he would dismiss the head of the agency responsible for publishing some of the most observed economic data in America, after a lower than expected job report, has made an alarm more on his pricing policies.

In an article on social networks, Trump – without proof – accused the commissioner, Erika Mcentarfer, of manipulating job figures for political reasons.

The decision shocked Wall Street and took the alarm about the White House interference in economic data at a time when many forecasters predict Trump’s prices to harm the economy.

He came then that the world’s stock markets were fading, after Trump advanced with plans to greatly increase prices on goods from around the world.

In the United States, the three main clues dropped, the S&P closed 1.6%, after previous sales in Europe and Asia.

Ryan Sweet, chief economist of the United States at Oxford Economics, said that the decision to dismiss the Commissioner of the Labor Statistics Office (BLS) was worrying, noting that high-quality economic data are essential to businesses and do not happen easily with private sources.

“Obviously, it is a step in a very poor direction,” he said. “If there are questions around the integrity of the data … it will create a lot of problems.”

Trump has rejected concerns about his pricing plans, which he said will stimulate manufacturing in the United States and will rebalance world trade.

But new data this week and a series of companies updates on tariff costs have made these forecasts more difficult to ignore.

Friday, the Bureau of Labor Statistics said that employers in the United States added that 73,000 jobs in July. He also considerably revised the estimates of employment growth in May and June, declaring 250,000 less created jobs than before.

Trump quoted revisions by announcing his decision to dismiss Ms. MCENTARFER.

“We need specific employment numbers. I ordered my team to dismiss this named Biden policy, immediately,” he wrote on social networks.

The head of the Labor Department, who oversees the BLS, wrote on social networks that the assistant commissioner of the agency William Wiatrowski would participate in this role in the search for a replacement.

The Labor Department did not immediately respond to a request for comments. The BLS revises the employment numbers each month as new data arrives, adding or usually subtracting thousands of positions.

Although this changes to this month were significantly more important than usual, analysts said that updates were in accordance with other data showing the slowdown.

Some have hypothesized that they could reflect small businesses, which are generally slower to respond to surveys and are particularly vulnerable to prices.

“The revisions are normal,” said Sweet. “They try to do things well.”

Msentarfer worked for the government for more than 20 years before being nominated to lead the BLS in 2023. She was then unanimously confirmed by the US Senate.

Michael Strain, director of economic policy studies at the American Enterprise Institute on the right, defended Ms. Darf, saying that she had headed with “great integrity”.

“It is imperative that decision-makers understand that government statistics are impartial and the highest quality. By throwing doubt about it, the president damages the United States,” he wrote on social networks.

Jed Kolko, a principal researcher at the Peterson Institute for International Economics, said that the dismissal has made the serious alarm. It occurs after the government has reduced its collection of economic data, including inflation information, in the midst of public spending reductions.

“For six months, I have said that the threats to economic data have been more collateral damage than intentional damage. No more. The dismissal of the head of the BLS is intentional damage to five alarms to the integrity of American economic data and the entire statistical system,” he wrote on social networks.

Trump defended the decision and said that his departure was necessary to ensure that there were “people we can trust” in these messages.

“Why should someone trust the numbers?” The president told journalists leaving the White House on Friday. “I think the figures were false, just as they were before the elections, and there were other times – so you know what I did? I dismissed it, and you know what I did?”

The fight against data comes as Trump is reducing the commercial policy, hitting the goods from the countries of the world with new rates ranging from 10% to 50%.

When Trump presented similar plans in April, stocks in the United States plummeted more than 10% in a week, concerns spreading to the dollar and bond markets.

The stock market has recovered after suspending some of the most drastic measures, leaving a less punishing and more expected withdrawal at 10%. In recent weeks, the United States has been negotiated around peaks of all time.

The latest measures are less extreme than what Trump has offered for the first time in April, but they will always push the average rate rate at around 17%, against less than 2.5% at the start of the year.

“The reality is that Trump was embarked by the fact that the markets returned directly,” said Michael Gayed, a portfolio manager at the BBC BBC BBC BBC. “Now he will try his luck again.”

In the United States, sharing opened in the morning, with losses accelerating in the afternoon. The S&P 500 decreased by 1.6%, while the DOW dropped by 1.2%and the NASDAQ dropped by 2.2%.

CAC 40 French decreased by 2.9%, while the German Dax dropped by 2.6%. In the United Kingdom, the FTSE dropped by 0.7%.

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

In the aftermath of the job report, Trump also launched another attack by the president of the federal reserve, Jerome Powell, who, according to him, evolves too slowly to reduce loan costs.

Powell directs the Committee of 12 people who establish the interest rate policy of the Central Bank, which influences interest rates for loans through the economy.

On Friday, one of the voting members of this committee, Adriana Kugler, whose mandate was to end in January, said she would resign, giving Trump the opportunity to install someone again.