The Trump administration is reportedly planning to alter a decades-long procedure that gives the news media early access to economic data releases so they can prepare stories in advance, according to Bloomberg News. Citing people familiar with the matter, Bloomberg reports that the Labor Department in Washington D.C. wants to change the practice of “lockups” for major reports, which last 30 to 60 minutes and allow reporters to receive data in a secure room and then write up stories on computers that are disconnected from the internet. The stories are then shared with the public at the designated release time. The department is reportedly considering removing the computers from that room entirely, the Bloomberg sources said. The purpose of lockups is to ensure accuracy and give journalists additional time to process market-moving data before it is released publicly. The reasoning for the potential move is unclear, but the government has previously noted that lockups—which are allowed but not required by government regulations—provide unfair advantages to the news media.
