Trump Threatens Trade Cutoff Over Interest Rate Disagreement
President Donald Trump has intensified pressure on the Federal Reserve to lower interest rates, threatening to cut off trade with countries that have a deficit with the US if the central bank doesn't act.
In a social media post after the stronger-than-expected August jobs report, which added 162,000 positions and kept the unemployment rate steady, Trump exhorted his hand-picked Fed Chairman Kevin Warsh to 'get smart' and 'BE PATRIOTS for a change.'
Trump claimed that high interest rates put the US at an unfair disadvantage and threatened to stop trading with countries that have a deficit if the Fed doesn't lower rates.
The president's approval ratings have plummeted ahead of November's midterm elections, with polls showing Americans disapprove of his handling of living costs and the war in Iran.