Trump Threatens Trade Action Over Fed Interest Rates Amid Strong Jobs Report
President Donald Trump has threatened to take trade action against countries with which the US has a trade deficit if the Federal Reserve does not cut interest rates. This warning comes after a jobs report that showed the US added 162,000 jobs in August, exceeding most economists' expectations and the highest mark since March.
The jobs report also revealed that the largest job gains came in the leisure and hospitality sector, as bars and restaurants ramped up hiring, and wages did not keep pace with inflation. National Economic Council Director Kevin Hassett attributed the positive reading to Trump administration policies.
Trump's comments on Truth Social followed a press interaction in the Oval Office, where he observed that 'the numbers are doing so good' but feared that the stock market would react negatively due to the strong jobs report.