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Trump Makes an Economic Announcement with Economist Steve Moore, Aug. 7, 2025

August 7, 2025 · The White House · 0:07:20

Embedded from the source channel — never re-uploaded. Watch on YouTube

What happened

President Donald Trump held a short session at the White House on August 7, 2025, with Heritage Foundation economist Steve Moore, whom he introduced as “one of the most highly respected economists” watching Americans’ money, to present newly released figures, carried on the White House channel. Moore said the data showed that over the last two years of the prior administration, the Bureau of Labor Statistics “overestimated job creation by 1.5 million jobs” — “a gigantic error,” as he put it. The President interjected that he did not believe it was an error: “I think they did it purposely.” Moore answered that even if not purposeful, “it’s incompetence.”

Moore then presented Census Bureau data he described as unpublished, with an advance look: median household income, adjusted for inflation, was up $1,174 in the President’s first five months, January through June, as he stated it. He also compared the first terms: a $6,400 real after-inflation gain in family income in President Trump’s first term against $551 under President Biden, as he presented the chart — “you gain 10 times more income for the average family than Joe Biden.” The session preceded the day’s Purple Heart ceremony.

Why it matters

This short announcement is the White House’s on-camera case for replacing the Bureau of Labor Statistics’ leadership: the alleged 1.5-million-job overestimate presented by an outside economist at the President’s invitation, paired with the administration’s income-gain figures in the same sitting.

Scoreboard watch

This announcement is a scoreboard reference point: the BLS overestimate figure (1.5 million jobs over two years) and the median-income figures ($1,174 in the first five months of 2025; $6,400 vs. $551 first-term comparison), each as stated by Steve Moore at the event, to be checked against the published BLS and Census data.

Sources: The White House, “President Trump Makes an Economic Announcement, Aug. 7, 2025” (official upload, embedded above). All figures and characterizations as stated by the President and by Steve Moore at the announcement.