Trump Calls for Lower Interest Rates Amid Strong US Employment Statistics
The US economy has seen strong employment statistics, with the August jobs report showing non-farm payrolls beating market expectations. The unemployment rate remained flat despite a 0.2% improvement in the labor force participation rate.
President Trump praised the strong US employment statistics on his social media platform, stating that 'the US creditworthiness has improved significantly compared to just a short while ago.' He believes that interest rates should be lowered due to this improvement.
OPEC+ announced it would keep its October oil production policy unchanged, despite renewed military clashes between the US and Iran causing crude oil prices to rise over 7% in a week.
The European Central Bank (ECB) is expected to raise interest rates for the first time in two meetings due to concerns about inflation driven by persistently high energy prices.