The news came via a tweet this morning from the president, who said he received insight from "some of the world's top business leaders", one of whom suggested that if the SEC were to "stop quarterly reporting [and] go to a six month system", it would boost USA business growth and employment.
Under federal law publicly traded companies must file a 10-Q report with the SEC every three months.
He said outgoing PepsiCo Inc Chief Executive Indra Nooyi had brought it up to him.
On the other hand, a study by experts at Duke University's Fuqua School of Business and City University of London, England, found that frequent financial reporting in itself creates short-sightedness that pushes companies to stress immediate results at the expense of longer-term investments.
Donald Trump has called for U.S. companies to issue financial reports just twice a year rather than four times.More news: Trump revokes security clearance of former Central Intelligence Agency director and frequent critic
"The difficulty in making better long-term decisions away from a quarterly reporting cycle certainly stands out as being beneficial", said Art Hogan at investment bank B. Riley FBR.
He picked a good moment to put the idea forward: Elon Musk is in the midst of a dramatic push to take Tesla Inc private in large part, he says, to remove the pressures of having to report quarterly earnings. By tweeting that the switch would give companies more flexibility and reduce costs, Trump waded into a long-running debate on how often companies should report.
Billionaire investor Warren Buffett and JPMorgan Chase & Co Chief Executive Jamie Dimon wrote in the Wall Street Journal in June that USA companies should move away from giving quarterly guidance, arguing it holds back spending on hiring, investment and research, but did not call for an end to quarterly reporting.
Last fall it laid out a blueprint for changes to capital market rules in a U.S. Treasury report, but did not advocate scrapping quarterly reporting.
SEC chairman Jay Clayton issued a statement saying the agency "continues to study public company reporting requirements, including the frequency of reporting".
Druckenmiller noted that investors like to know what's going on with the companies they invest in.
Business groups including the US Chamber of Commerce, the Securities Industry and Financial Markets Association and exchange operator Nasdaq have been lobbying hard over the past year for lawmakers and the SEC to relax listing rules, warning that the decline in listings hurts jobs and pension funds. Some said the change could help companies to invest more in their businesses rather than race to show profit gains each quarter.