Trump Frustrated by Positive Jobs Report, Predicts Record-Breaking Growth
President Donald Trump has been touting an economic boom for nearly two years, but even a surprisingly positive jobs report on Friday caused him frustration.
The August job numbers showed a gain of 162,000 jobs, which might have been a welcome relief after months of sluggish hiring and concerns about inflation. However, speaking from the Oval Office, Trump vented his anger at the financial markets, the Federal Reserve, and U.S. trade partners.
He disputed the commonly accepted notion that the surprise gain in jobs could contribute to inflationary pressures, saying 'Success does not cause inflation. Stupidity causes inflation.'
The combination of a drop-off in hiring and higher prices has dogged Trump's pledge to instantly unleash historic levels of growth. The economy has grown at roughly 2% annually, slower than during the Biden administration.