Trump Demands Rate Cuts After Blowout August Jobs Report

US President Donald Trump has called on the Federal Reserve to cut interest rates in response to the strong August jobs report. The report showed a blowout employment figure, with 366,000 new jobs added in August.

In a post on LinkedIn, Trump stated that he believes the Fed should lower its benchmark rate to boost economic growth. This comes after his handpicked Fed chair, Kevin Warsh, has been under pressure from lawmakers and market participants to cut rates.

Warsh's position is now in an even more challenging spot as he prepares for this month's policy meeting. Trump's demand puts him at odds with some of the Fed's own members, who have argued that a rate cut may not be necessary given the strong labor market.