President Donald Trump appeared to break a federal rule Friday morning when he tweeted about the latest jobs reported from the Bureau of Labor Statistics more than an hour before the report's release.
Indeed, May's report showed the economy added 223,000 jobs in May, pushing the unemployment rate to just 3.8 percent, a level not seen in 18 years.
President Donald Trump will likely take credit for the new numbers released Friday.
But Kudlow defended Trump's actions as aimed at reforming a global trading system rife with rule-breaking.
The jobs report episode follows 16 months of a presidency in which Trump has cast aside traditions with such frequency that practices long considered taboo are now routine, even as critics say Trump is gambling with some of the nation's most sensitive information.
The yield on the 10-year Treasury note, which moves in the opposite direction of price, was at 2.885% at the time of Trump's tweet, The yield quickly moved up to 2.895% after the tweet, and climbed as high as 2.922 after the official release of the jobs report.
"He chose to tweet", Kudlow said, downplaying the matter.
"He simply ignored the wall", New York University presidential historian Timothy Naftali said of Trump's post Friday.
Trump's tweet could set a "bad precedent" for future job-related announcements from the federal government, said Gary Kaltbaum, president of Kaltbaum Capital Management.
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But it led to an outcry from Democrats and Republicans, particularly veterans of past White House teams, who said the restrictions in place are meant to both prevent the politicization of these reports and leaks of market-moving information.
But investors weren't waiting for the official report.
Larry Summer, former director of the National Economic Council, lamented how former President Bill Clinton and Barack Obama would have been in hot water had they commented on unreleased figures.
"I apologize if we're a little excited and we're so glad to see so many fellow Americans back at work", he said.
Because the president would be briefed on the numbers ahead of time, his decision to promote the announcement gave rise to accusations of "market manipulation".
On Wall Street, where the 8:30 a.m. release on Jobs Friday is a major event for the markets each month, traders disagreed on whether the tweet actually moved prices, which fluctuate constantly and make it hard to determine if any single event pushed them in one direction or another. The Chairman of the Council of Economic Advisers receives the report the day before its publication and is allowed to share it with the president, but neither are supposed to comment on it until its official release.
"1985 federal directive on #JobsReport states: "employees of the Executive Branch shall not comment publicly on the data until at least one hour after the official release time".
As a result, some "two-thirds of the drop in the unemployment rate in May was because workers found jobs, while about one-third of the drop was from people leaving the labor force", the left-leaning Economic Policy Institute noted.
"This certainly was a no-no". Trump's tweet hinted a positive report, providing a signal to markets.