President Donald Trump’s tweet before the jobs report a week ago has prompted demands for an investigation on whether it allowed market manipulation.
A group of Democratic senators released a letter Friday demanding that various authorities look into the propriety of Trump’s release and whether “politicizes economic data and increases the possibility that this inside information could be used for unlawful advantage in the market.”
“President Trump recklessly violated federal rules and years of precedent by telegraphing financial data that has the power to move our markets,” Senator Elizabeth Warren (D-Massachusetts) said in a statement. “The Trump Administration is swarming with people who have secret financial holdings and conflicts of interest a mile long.”
The controversy centered on a tweet Trump sent about an hour before the release of the May jobs report June 1.
“Looking forward to seeing the employment numbers at 8:30 this morning,” the president said, though he reportedly already had seen the numbers Thursday evening.
While market reaction was fairly muted, stock futures briefly gained and gold prices and government bond yields moved higher.