Trump Warns of Trade War Unless Fed Cuts Rates Amid Strong Jobs Report
US President Donald Trump has threatened to impose trade restrictions on countries with which the US has a deficit if the Federal Reserve does not lower interest rates in response to the strong August jobs report.
The Bureau of Labor Statistics reported that U.S. employers added 162,000 jobs last month, exceeding economists' expectations of 53,000.
Trump took to Truth Social to express his opinion on the matter, stating 'Lower the interest rates because the U.S.A. is a much stronger credit than it was just a short time ago! A STRONG COUNTRY MEANS A LOWER INTEREST RATE, IT'S A BETTER CREDIT.'
The Fed has maintained its current rate range of 3.5 to 3.75 percent at its last five meetings, with inflation remaining above the central bank's target rate of 2 percent.