Kevin Hassett, the National Economic Council Director, spoke out last week about President Trump’s decision to remove Erika McEntarfer from her position as the Commissioner of the Bureau of Labor Statistics. Hassett claimed this change was part of Trump’s desire to have his own people in key roles.
His comments came shortly after a disappointing jobs report, showing only 73,000 jobs were added in July. This figure was significantly lower than expected, with previous months’ numbers also revised down by 258,000. After the report, Trump took to Truth Social, alleging the numbers were “rigged” to undermine him and the Republican Party.
While on NBC’s “Meet the Press,” Hassett failed to provide evidence for Trump’s claims of manipulation and suggested a need for new leadership at the Bureau of Labor Statistics. He emphasized that fresh perspectives could help address issues in the data collection process.
Former Commissioner William Beach, appointed by Trump, defended the Bureau’s integrity. He insisted he would trust future job data, although he expressed concern over the potential damage to the Bureau’s credibility following the firing.
Former Treasury Secretary Larry Summers also weighed in, labeling Trump’s accusations as ridiculous. He stated, “There is no conceivable way that the head of the BLS could have manipulated this number.” Summers warned that the disappointing report raised the risk of recession.
Meanwhile, Hassett asserted that new tariffs with key U.S. trading partners are on the way, despite concerns about their impact on jobs. He mentioned that while some details may need adjustment, the overall structure of these new trade deals is essentially finalized.
Recent economic data suggests that these tariffs could further affect consumer goods. An analysis indicated increased prices on a variety of American products such as toys and furniture. This raises questions about the claim that only foreign countries bear the burden of tariffs.
Amid these tensions, the U.S. has yet to finalize a deal with China, and the economic landscape appears increasingly uncertain. Both countries, heavily reliant on each other for essential goods, could face severe repercussions if trade barriers escalate. As the situation unfolds, the implications for U.S. consumers and businesses remain to be seen.
