Trump Demands Fed Cut Interest Rates Amid Inflationary Pressures
US President Donald Trump has urged the Federal Reserve to slash interest rates, warning that he will cut off trade with countries incurring trade deficits if they don't comply. This ultimatum comes after a stronger-than-expected monthly jobs report, which Trump used as evidence of economic growth and inflationary pressures.
Trump's demand for lower interest rates has been echoed by Vice President JD Vance, who believes that reducing borrowing costs will make homes more affordable. However, Federal Reserve Chair Kevin Warsh hinted at maintaining current interest rates in a recent speech, citing signs of disinflation and remaining data ahead.
The UK construction sector also reported a sustained downturn in business activity in August, with the S&P Global UK Construction Purchasing Managers' Index registering 44.3, down from 44.7 in July. This trend is reflected in Russia's natural gas exports, which are expected to increase significantly, with China accounting for over 60% of exports by 2030.