{"id":127490,"date":"2025-08-07T22:42:16","date_gmt":"2025-08-07T22:42:16","guid":{"rendered":"https:\/\/www.europesays.com\/us\/127490\/"},"modified":"2025-08-07T22:42:16","modified_gmt":"2025-08-07T22:42:16","slug":"trump-calls-in-press-for-major-announcement-in-oval-office","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/127490\/","title":{"rendered":"Trump calls in press for \u2018major announcement\u2019 in Oval Office"},"content":{"rendered":"

An Oval Office event the White House billed as a \u201cmajor announcement on the economy\u201d<\/a> by President Donald Trump<\/a> turned out to be nothing more than a sycophantic presentation by a partisan television commentator who\u2019d brought charts to the White House touting the economic record of the president\u2019s first term.<\/p>\n

Reporters who were summoned to the president\u2019s workspace around 4:15 p.m. and were told Trump would be making a \u201cmajor announcement\u201d ahead of his only scheduled public appearance of the day, an East Room ceremony to honor Purple Heart recipients.<\/p>\n

Instead, they were greeted by Trump standing alongside Stephen Moore<\/a>, a right-wing television commentator and economist who the president had tried \u2014 and failed \u2014 to put on the Federal Reserve Board of Governors during his first term.<\/p>\n

Trump described Moore, whose nomination six years ago faced bipartisan opposition because economic experts \u2014 and senators \u2014 found him manifestly unqualified to serve on the Fed\u2019s board, as \u201cone of the most highly respected economists\u201d and turned the floor over to him.<\/p>\n

Moore told reporters he\u2019d called Trump to buck him up after he fired the head of the Bureau of Labor Statistics last week by showing him data purporting to prove that BLS \u201coverestimated job creation by 1.5 million jobs\u201d during the final two years of former president Joe Biden<\/a>\u2019s term.<\/p>\n

\"President<\/p>\n

President Donald Trump called the press into the Oval Office for a \u2018major announcement\u2019 about the economy. But he just showed off charts of his perceived success. (REUTERS)<\/p>\n

\u201cThat\u2019s a gigantic error,\u201d Moore said, at which point Trump chimed in to claim that the nonpartisan agency\u2019s revisions to previously released jobs data \u2014 a common practice when the bureau receives more updated information \u2014 was \u201cnot an error\u201d because it was meant to benefit Democrats by making Republican presidents such as himself look bad.<\/p>\n

\u201cYou may well be right. But even if it wasn’t purposefully, it’s incompetence,\u201d Moore said.<\/p>\n

Continuing, the Heritage Foundation economist went on to present a series of charts touting economic data from Trump\u2019s first term favorably compared to Biden\u2019s four years in office.<\/p>\n

In one such chart, he claimed Trump\u2019s prior administration \u201cgained 10 times more income for the average family than Joe Biden\u201d over his first four years in the White House.<\/p>\n

The bizarre presentation came as the massive import taxes ordered by Trump as part of his effort to restore manufacturing across a broad range of industries took effect.<\/p>\n

The global tariffs, ranging from 10 to 50 percent, have ignited fear among consumers, companies, and investors about potential price hikes.<\/a><\/p>\n

Everyday items ranging from coffee<\/a> to Toyotas,<\/a> home furnishings to Gap jeans, are expected to become more expensive as companies adjust their prices to counteract the impact of tariffs. While the president has asked companies to absorb any increases in costs, many cannot forever.<\/p>\n

Even luxury items such as British-Indian Range Rovers, French wines or Swiss watches by Rolex and Omega are likely to face prices hikes as they navigate 10 percent, 15 percent, and 39 percent tariffs, respectively.<\/p>\n

While Trump wants tariffs to promote domestic production and purchasing, Americans will most likely bear the cost. Economic experts agree that sweeping tariffs on goods from countries could lead to supply chain issues, price spikes, or even inflation.<\/p>\n","protected":false},"excerpt":{"rendered":"An Oval Office event the White House billed as a \u201cmajor announcement on the economy\u201d by President Donald…\n","protected":false},"author":3,"featured_media":127491,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[42044,64,77960,77959,77957,77958,277,67,132,68,5223],"class_list":{"0":"post-127490","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-announcement","9":"tag-business","10":"tag-economic-experts","11":"tag-federal-reserve-board-of-governors","12":"tag-oval-office","13":"tag-stephen-moore","14":"tag-trump","15":"tag-united-states","16":"tag-unitedstates","17":"tag-us","18":"tag-white-house"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114989901111704194","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/127490","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=127490"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/127490\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/127491"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=127490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=127490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=127490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}