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Democratic Senators Call For Investigation Of Trump's Jobs Report Tweet

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A group of three Democratic Senators have sent a letter to federal regulators expressing concerns about President Donald Trump's tweet ahead of the release of the closely watched monthly jobs report last Friday.

The letter claims Trump's tweet violated federal guidelines restricting government officials from disclosing market-moving economic data prior to their scheduled release and commenting publicly on those data in the immediate aftermath of their release.

The Democrats called on the Securities and Exchange Commission and the Commodities Futures Trading Commission to investigate whether any individual or corporate entity was able to obtain and use market-moving information provided to the White House before its official release.

The letter was signed by Democratic Senators Elizabeth Warren, D-Mass., Ron Wyden, D-Ore., and Michael Bennet, D-Col.

More than an hour before the official release of the Labor Department report, Trump tweeted, "Looking forward to seeing the employment numbers at 8:30 this morning."

The Labor Department report subsequently showed employment increased by much more than expected in the month of May, driving the unemployment rate down to its lowest level in eighteen years.

The Democrats argued Trump's tweet clearly implied that the employment numbers were positive for the administration and led to increases in treasury yields, the dollar index, and stock futures.

"President Trump recklessly violated federal rules and years of precedent by telegraphing financial data that has the power to move our markets," Warren said in a statement.

She added, "The Trump Administration is swarming with people who have secret financial holdings and conflicts of interest a mile long."

Austan Goolsbee, who served as chairman of the Council of Economic Advisers under President Barack Obama, suggested last Friday that Trump may have violated federal law with his tweet.

"If the president just tipped that the numbers are good, he broke the law," Goolsbee tweeted. "It's classified information. The CEA gets the number the day before and even internally can only discuss the info on an encrypted line before release."

However, current White House officials have argued that Trump's remark about the jobs report was appropriate.

by RTTNews Staff Writer

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