Trump Demands Rate Cut, Threatens Trade Halt Over Deficit Countries
US President Donald Trump has renewed pressure on the Federal Reserve to cut interest rates, threatening to halt trade with countries that have a deficit with the US if the central bank does not lower borrowing costs.
In a Truth Social post, Trump said he wants the Fed to 'get smart' and reduce interest rates. This comes after the release of a strong August jobs report, which showed 162,000 new jobs were added last month.
The stronger-than-expected jobs report boosted market expectations for a rate hike ahead of the Fed's upcoming meeting on September 15. However, Trump's comments have reasserted pressure on the central bank to keep rates low.
Trump also cited the Supreme Court's February ruling on his tariffs, arguing that he retains authority to restrict trade despite the court striking down some of his previous measures.