Trump Demands Fed Lower Interest Rates Amid Strong US Jobs Report
US President Donald Trump has called on the Federal Reserve to lower interest rates following a strong August jobs report, which showed the economy added 162,000 payrolls. This is a departure from the typical response to a hot labor market, where the expectation would be for the central bank to remain hawkish and keep interest rates high.
Trump's request comes after he claimed that the US job figures reflected the country's stronger credit position compared to 'a short time ago'. The US lost its top-tier AAA credit rating last year due to rising interest costs of the national debt, but this change was not based on the strength of the labor market.
Trump threatened that if the Fed does not lower rates, he will stop trading with countries that have a deficit with the US. He also stated that he believes the US should have the 'LOWEST RATE out of any country in the World'.