Forex
Trump Demands Fed Rate Cut After Strong US Jobs Report
US President Donald Trump has stepped up pressure on the Federal Reserve to lower interest rates. The latest US jobs data showed employers added 162,000 jobs in August, a figure that Trump claims 'broke all estimates' and is significantly stronger than expected.
In a post following the release of the jobs data on September 4, Trump said a strong economy should translate into cheaper borrowing costs. He argued that a country's strength means lower interest rates, saying 'A STRONG COUNTRY MEANS A LOWER INTEREST RATE - IT'S A BETTER CREDIT.'
Trump also warned the Federal Reserve that he could take further action if rates were not lowered. He suggested stopping trade with countries where the US runs a deficit as an alternative to tariffs.