Trump Demands US Lowest Interest Rate Amid Strong Jobs Report
US President Donald Trump is calling for lower interest rates, arguing that elevated borrowing costs put the country at an economic disadvantage. In a social media post, he said the US should have 'the lowest rate of any country in the world'.
The comments come as the Federal Reserve prepares to meet on September 15-16 and consider its next move. The August jobs report showed that the US economy added 162,000 jobs, nearly three times the expected increase. However, inflation remains above the Fed's 2% target at 3.4%, and financial markets are reassessing the possibility of a rate hike.
Almost 60% of traders are betting on an interest-rate hike in September, according to CME Group's FedWatch data. Economists also say the latest employment figures strengthen the case for a potential hike.