The Biden administration wants to shorten the period between when economic data are released and when officials can comment on that data, a proposal that has upset some Republicans.
Under rules set decades ago, White House officials must wait one hour after the release of new economic data before they can weigh in on that data. The administration would like to shorten the embargo to 30 minutes.
Officials argue that the separation, which is intended to ensure the public can get accurate information before hearing political takes from partisan officials, is outdated in today’s era of instant communication.
But some Republicans are crying foul.
“The Biden administration has shown how desperate it is to stay relevant in the news right before an election,” House Education and the Workforce Committee Chairwoman Virginia Foxx (R-NC) said. “The American people will see this for exactly what it is: a sham.”
The White House Office of Management and Budget seeks to update rules in place since 1985, saying the shortened embargo period reflects “advances in communication technologies and methods” while preserving the accurate release of nonpartisan economic data.
Obama administration official Jason Furman posted his support on X.
“Sensible update by the Biden Administration to allow officials to comment on the data 30 minutes after release (frankly I would think 15 minutes was fine), shortening the window that had been 60 minutes since the Nixon era,” he wrote.
White House officials have early access to economic data such as monthly jobs and inflation reports, and the rule is designed to prevent them from working to color the market response. The economy, and inflation in particular, is a touchy spot for Biden as he enters his reelection campaign.
The Trump administration also considered doing away with the delay in 2019 before backing off due to opposition. Trump himself drew controversy in June 2018 by tweeting about a positive jobs report before it was released.
The new rules will take effect Feb. 19.
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OMB says its analysis found that most press stories on economic data publish within 10 minutes of the release.
“This directive, published almost 40 years ago and before the modern internet, is designed to ensure the equitable, policy-neutral, and timely release and dissemination of key economic data,” a White House spokesperson said. “This revision upholds that commitment while recognizing that information moves much faster in today’s world and we must adapt if we want to continue to encourage robust public discourse and meaningful engagement.”
