Strong Jobs Report Boosts Fed Hike Bets as Trump Demands Rate Cuts

The US job market added 162,000 jobs in August, nearly three times as many as economists had expected. This stronger-than-expected report has increased expectations of an interest-rate hike at the Federal Reserve's September meeting.

President Donald Trump renewed his pressure on the central bank to cut rates, threatening to halt trade with countries that run a deficit with the US. He said in a Truth Social post, 'The Fed Board, with its great new leader, must get smart - BE PATRIOTS for a change.'

The Fed meets September 15 and 16, and its decision will likely depend on inflation reports due next week. Inflation has remained above the Fed's two percent target for 5-1/2 years.