Amy Scott
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Podcast Appearances
So, Catherine, a wrinkle in this report is that President Trump actually posted a chart on his social media last night that included some data from this morning's jobs report before it was released.
It's generally considered a no-no to share this data in advance, even though, you know, people in the executive branch are briefed on the data.
How much of a breach is that?
It's a huge breach.
This is not just about violating norms or propriety, things like that.
Somebody probably made a fair amount of money off of that early tweet.
These numbers are kept under lock and key because they move markets.
So this is about preventing some insiders from potentially scrutinizing that tweet and reading the tea leaves and noticing that the numbers that he posted, because he posted some year-over-year numbers that reflected the inclusion of the December figures.
If you had scrutinized that and you had realized that, oh, no, he was not using publicly available data,
Those numbers must imply some not yet released data.
You could have made a lot of money.
And those of us who have 401ks, who are more passive investors, you stood to lose a lot of money because there was somebody who had insider information.
So this is a very big deal.
I've been trying to explain this to people that it's not just like, oh, the wonks and, you know, others are are frustrated by all of this because there's this memo that says that they're not supposed to do it.
No, this is there's real money on the line.
This was a big, big deal.
Heather, what are you hearing about this and what it means for the future of kind of the integrity of this data?
And so, of course, the Fed will be thinking about this when it meets in a few weeks to talk about interest rate policy.