On Sunday, US Treasury Secretary Larry Summers commented on President Trump’s decision to dismiss a Commissioner from the Bureau of Labor Statistics after a disappointing employment report. He stated that this action exceeds anything former President Nixon has done.
During his appearance on ABC News’ “This Week,” Summers criticized the firing of Erica Mantelfer, calling it worse than the controversial actions taken during Nixon’s presidency. He recalled how Nixon had to deal with significant backlash when he let go of individuals involved in the Watergate investigation, pointing out that while Nixon himself wasn’t entirely responsible for every action, it eventually led to his resignation.
Summers remarked, “This is far beyond what Richard Nixon has done so far.” He expressed astonishment that other officials didn’t resign in protest, akin to the responses seen during Nixon’s tenure, where officials left their posts following his unlawful firings.
Describing the move as “a stupid fee,” he emphasized that the employment report was compiled by a large team following specific guidelines, suggesting that manipulation of the data was impossible. “There’s no way the heads of BLS could have altered this number,” he insisted, noting that the figures align with various private sector analyses.
Summers voiced concern that this behavior signifies “democracy gives way to authoritarianism,” likening it to intimidation tactics against journalists, outright attacks on academic institutions, and aggressive moves against law firms that hold opposing views.
“This is really scary,” he said, adding that instability in the rule of law creates uncertainty in the market. He explained that this uncertainty discourages investment and ultimately hampers economic growth.
Trump’s firing of Mantelfer followed an unexpected employment report revealing that the economy had only added 73,000 jobs, with previous months showing worse performance than anticipated.
When asked about Trump’s harsh criticism of Federal Reserve Chairman Jerome Powell, Summers suggested that the president seemed to be setting Powell up as a scapegoat in case of poor economic results.
Interestingly, Trump had previously remarked in May 2020 that he had learned from Nixon’s mistakes. “I learned a lot from Richard Nixon. Don’t fire people,” he told Fox & Friends at the time. He acknowledged having studied history and reflected on his past decisions. “I should have done it differently, but in the end, I’m glad I didn’t,” he noted, mentioning that many he considered to be untrustworthy ended up in trouble.
Nevertheless, Trump’s recent action has drawn criticism from various lawmakers, including statisticians and industry experts.
Summers comments on the firing of the BLS commissioner: ‘Much worse than anything Richard Nixon ever did’
On Sunday, US Treasury Secretary Larry Summers commented on President Trump’s decision to dismiss a Commissioner from the Bureau of Labor Statistics after a disappointing employment report. He stated that this action exceeds anything former President Nixon has done.
During his appearance on ABC News’ “This Week,” Summers criticized the firing of Erica Mantelfer, calling it worse than the controversial actions taken during Nixon’s presidency. He recalled how Nixon had to deal with significant backlash when he let go of individuals involved in the Watergate investigation, pointing out that while Nixon himself wasn’t entirely responsible for every action, it eventually led to his resignation.
Summers remarked, “This is far beyond what Richard Nixon has done so far.” He expressed astonishment that other officials didn’t resign in protest, akin to the responses seen during Nixon’s tenure, where officials left their posts following his unlawful firings.
Describing the move as “a stupid fee,” he emphasized that the employment report was compiled by a large team following specific guidelines, suggesting that manipulation of the data was impossible. “There’s no way the heads of BLS could have altered this number,” he insisted, noting that the figures align with various private sector analyses.
Summers voiced concern that this behavior signifies “democracy gives way to authoritarianism,” likening it to intimidation tactics against journalists, outright attacks on academic institutions, and aggressive moves against law firms that hold opposing views.
“This is really scary,” he said, adding that instability in the rule of law creates uncertainty in the market. He explained that this uncertainty discourages investment and ultimately hampers economic growth.
Trump’s firing of Mantelfer followed an unexpected employment report revealing that the economy had only added 73,000 jobs, with previous months showing worse performance than anticipated.
When asked about Trump’s harsh criticism of Federal Reserve Chairman Jerome Powell, Summers suggested that the president seemed to be setting Powell up as a scapegoat in case of poor economic results.
Interestingly, Trump had previously remarked in May 2020 that he had learned from Nixon’s mistakes. “I learned a lot from Richard Nixon. Don’t fire people,” he told Fox & Friends at the time. He acknowledged having studied history and reflected on his past decisions. “I should have done it differently, but in the end, I’m glad I didn’t,” he noted, mentioning that many he considered to be untrustworthy ended up in trouble.
Nevertheless, Trump’s recent action has drawn criticism from various lawmakers, including statisticians and industry experts.
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