Trump Threatens Economic Consequences for Fed If Rates Don't Fall
US President Donald Trump has issued an ultimatum to the Federal Reserve, demanding that they slash interest rates or face the consequences. In a Truth Social post reacting to a strong jobs report, Trump urged the central bank and its chairman, Kevin Warsh, to 'get smart' and cut rates.
The President claimed that a lower interest rate would make the US a stronger credit and put it on par with other countries. He also threatened to cut off trade with countries that have a surplus with the US, stating that this would be better than tariffs.
Trump's message comes two months before the midterm elections, where high inflation has been a dominant theme. The White House did not immediately respond to CNBC's request for additional information on the post.