Trump Threatens Trade War If Fed Doesn't Lower Rates After Strong Jobs Report
President Trump is pushing for interest rate cuts after the August jobs report showed stronger-than-expected job growth. The Bureau of Labor Statistics reported that U.S. employers added 162,000 jobs last month, exceeding economists' predictions of 53,000.
In a post on Truth Social, Trump called on the Federal Reserve to lower interest rates, stating that 'a strong country means a lower interest rate.' He also warned that if the Fed doesn't comply, he will stop trading with countries that have a deficit against the U.S.
The Fed has kept rates steady at 3.5-3.75% over its last five meetings, despite inflation remaining above the central bank's target rate of 2%. The latest jobs data suggests that the Fed may actually raise rather than lower rates in response to growing economic strength.