Trump Demands Fed Cut Interest Rates or Face Trade Restrictions
President Donald Trump has called on the Federal Reserve to lower interest rates, threatening to halt trade with countries that have a deficit with the US. This demand comes after a strong jobs report showed employers added 162,000 jobs in August, more than triple the estimated figure.
Trump argued that the US is now a stronger credit and should have the lowest interest rate among all countries. He also claimed that halting trade with deficit countries would be within his presidential powers, citing a recent Supreme Court ruling on tariffs.
In a direct message to the new Fed chair, Kevin Warsh, and the Federal Open Market Committee (FOMC), Trump urged them to 'get smart' and lower interest rates. He claimed that high interest rates put the US at an unfair disadvantage and would not allow it to happen.