White House ponders shortening economic data one-hour rule

The Biden administration is proposing a change to the one-hour gag rule on economic data, which has prevented officials from weighing in on critical data. The proposed change would allow officials to weigh in 30 minutes after the release of key data, allowing them to enter the dialogue thirty minutes earlier.

The rule, dating back to the Nixon era, requires executive branch officials to stay quiet on economic indicators like the jobs report and inflation data for a full hour after the release. The Biden administration is not seeking changes to other aspects of the rule, but only the aspect that prohibits public comment for an hour after economic data is released.

Current administration officials argue that the rule is no longer relevant in an era of fast-moving information and analysis, as society communicates and interacts differently today. The Biden administration acknowledges the importance of maintaining some delay between the release of key indicators and commentary on said indicators.

It is unclear when the change will take effect, but for 60 days, the public can weigh in on the proposal. The Biden administration will consider feedback before implementing any tweaks to the rule.