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lite.cnn.com - on gopher - inofficial
ARTICLE VIEW:
Trump endorses dramatic shift to the US economy
By Matt Egan, CNN
Updated:
10:44 AM EDT, Mon September 15, 2025
Source: CNN
In his latest bid to reshape the American economy, President Donald
Trump has endorsed ending the decades-long practice of public companies
sharing their financial results once each quarter.
Such a move would represent a dramatic shift aimed at combating
short-term thinking inside C-Suites obsessed with pleasing investors
but would also mean far less timely insights into the business world
and the real economy.
In a Truth Social this morning, Trump said companies “should no
longer be forced to ‘Report’ on a quarterly basis” and should
instead report results once every six months.
“This will save money, and allow managers to focus on properly
running their companies,” Trump said. “Did you ever hear the
statement that, ‘China has a 50 to 100 year view on management of a
company, whereas we run our companies on a quarterly basis???’ Not
good!!!!”
The criticism of short-term thinking echoes arguments including
JPMorgan Chase CEO Jamie Dimon and legendary investor Warren Buffett.
Hillary Clinton, Trump’s 2016 presidential election opponent, she was
“deeply distressed about quarterly capitalism.”
The concern is that Corporate America is often far too focused on
pleasing the notoriously fickle stock market and not paying enough
attention to longer-term challenges and opportunities.
Moreover, some argue that the regulatory burdens of quarterly reporting
have contributed significantly to the in the United States.
Trump noted that moving away from quarterly reporting would be
“subject to SEC Approval,” an allusion to the regulatory sign-off
that would be required by regulators.
The Securities and Exchange Commission may have a chance to weigh in on
such a change soon enough.
The Long-Term Stock Exchange, an exchange backed by major investors
including Andreessen Horowitz and Founders Fund, plans to soon petition
the SEC to eliminate the quarterly earnings report requirement and
instead allow companies to report results once every six months.
“We hear a lot about how it’s overly burdensome to be a public
company,” the exchange’s CEO Bill Harts told The Wall Street
Journal, which first reported news of the planned petition. “This is
an idea whose time has come.”
In the 2010s, regulators in both the European Union and the United
Kingdom stopped requiring companies to report quarterly results, moving
to six-month reporting periods instead.
In 2018, Trump to study moving to a six-month reporting system to
“allow greater flexibility & save money.”
“We believe the switch to semi-annual from quarterly reporting has
moved from improbable to probable though not guaranteed,” Jaret
Seiberg, managing director at TD Cowen Washington Research Group, wrote
in a note to clients on Monday.
Seiberg noted that there is an industry push to get rid of quarterly
reporting and Paul Atkins, the Trump-nominated chair of the SEC, favors
cutting red tape.
“This appears to be an easy policy win for SEC Chair Paul Atkins to
deliver to the President,” Seiberg wrote.
It would likely take staffers at the SEC at least six months to craft a
proposed rule and collect data to support it, Seiberg said.
Yet shareholders, economists, policymakers and others have come to rely
on these timely updates from major companies.
Quarterly reports from airlines give powerful insights into shifts in
travel demand, big bank results give early warnings on loan losses and
Big Tech reports currently give timely updates on the state of the
artificial intelligence boom.
Moving to a six-month reporting period could delay those insights and
exaggerate stock moves during shifts in the economy and various
industries.
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