Trump Threatens to Cut Trade with Countries if Fed Doesn't Lower Rates

The US economy added 162,000 jobs in August, exceeding expectations and sparking concerns that the Federal Reserve may hike interest rates at its next meeting.

The strong jobs report, released on Friday morning, sent the probability of a quarter-point rate hike soaring from about 50% to over 58%, according to CME FedWatch.

Federal Reserve Chairman Kevin Warsh has emphasized that price stability is the central bank's top priority, and the latest labor market data may give him additional cover to restrict monetary policy and bring inflation down to 2%.

In response to the jobs report, President Donald Trump took to social media to urge the Fed to lower interest rates, arguing that a strong economy means lower borrowing costs.