Trump Demands Fed Cut Interest Rates Amid Strong Jobs Report
President Donald Trump has called on the Federal Reserve to cut interest rates, threatening to halt trade with countries that have a deficit with the US. This comes after a strong jobs report showed employers added 162,000 jobs in August, exceeding estimates.
In a social media post, Trump claimed that the US is a 'much stronger credit' than it was previously and should therefore have lower interest rates. He also referenced the Federal Reserve's new chair, Kevin Warsh, saying he needs to 'get smart' and acknowledge the need for lower rates.
Trump threatened to stop trading with countries that have a deficit with the US, citing his constitutional authority to do so as acknowledged by the Supreme Court in its Tariff decision. He also called on the Federal Open Market Committee (FOMC) to take action and 'get smart' for a change.