President Trump has announced the removal of Bureau of Labor Statistics (BLS) Commissioner Dr. Erika McEntarfer after July’s nonfarm payrolls rose by an underwhelming 73,000, below the estimate for 104,000. McEntarfer was appointed by former President Joe Biden.
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In a Truth Social post, Trump accused McEntarfer of faking “the Jobs Numbers before the Election to try and boost Kamala’s chances of Victory.”
“McEntarfer said there were only 73,000 Jobs added (a shock!) but, more importantly, that a major mistake was made by them, 258,000 Jobs downward, in the prior two months,” said Trump.
Trump Doubts Validity of Nonfarm Payrolls Report
Trump stressed that the economy has remained strong during his term and alleged that the Fed was complicit in attempting to boost Kamala Harris’s election chances by lowering interest rates before the 2024 presidential election.
According to TipRanks’ Trump Dashboard, the S&P 500 ETF (SPY), the Nasdaq 100 ETF (QQQ), the Financial Select Sector SPDR Fund (XLF), and two other stocks will likely be affected by his post.
