Trump Threatens Trade Action Over Fed Interest Rates

President Donald Trump has made a surprise threat to impose trade restrictions on countries with which the US has a trade deficit, if the Federal Reserve does not cut interest rates.

The announcement comes after a jobs report released on Friday showed that the US added 162,000 jobs in August, exceeding most economists' expectations and reaching its highest mark since March.

The unemployment rate remained unchanged at 4.1 percent, while wages did not keep pace with inflation, reducing consumer purchasing power.

National Economic Council Director Kevin Hassett attributed the positive reading to Trump administration policies, stating that 'people because of the tariffs are onshoring production.'