Kevin O’Leary has publicly expressed his disapproval of President Donald Trump‘s decision to fire Erika McTarfer, the Commissioner of the Bureau of Labor Statistics.
What Happened: O’Leary, who is the chairman of O’Leary Ventures, voiced his criticism on CNN on Friday. He disagreed with Trump’s decision to dismiss McTarfer, stating, “You don’t shoot the messenger.”
Previously, Trump had baselessly accused McTarfer of “faking” the job numbers.
This accusation came after a July report that indicated the weakest job growth in a month since December 2020, and included significant downward revisions for May and June.
In a post on Truth Social, Trump slammed McEntarfer stating she altered job reports to favor former Vice President Kamala Harris during the November election and said he’d given his team orders to dismiss the Biden appointee “IMMEDIATELY.”
Despite having previously argued that Trump’s policies had been beneficial to him as an investor, O’Leary stated that the decision to fire McTarfer “makes no sense whatsoever.”
Also Read: Kevin O’Leary Highlights Growing Concern Over 401(k) Contributions Amid Rising Household Debt
“We had a bad print on jobs. I did not agree on whacking the commissioner. I don’t like that. “Whacking statisticians makes no sense whatsoever. You don’t shoot the messenger,” O’Leary said during the interview.
“I think the market is a little concerned about major trading partners not getting deals yet. It’s not a good idea to have 35 percent tariffs on Canada. We know that that’s coming into place at midnight right now unless something magic happens,” O’Leary further added.
Why It Matters: The dismissal of McTarfer by President Trump has sparked controversy and criticism. The Bureau of Labor Statistics plays a crucial role in providing accurate and essential data related to employment and labor market activity.
The dismissal of its Commissioner, especially under baseless accusations, raises concerns about the integrity and reliability of future data.
O’Leary’s criticism underscores the importance of maintaining credibility and transparency in such crucial institutions. The impact of this decision on investor confidence and market stability remains to be seen.
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