Trump's Economic Boom Promise Fizzles as He Blames Others for Inflation

President Donald Trump has been touting an economic boom for months, but even a strong jobs report in August failed to impress him. The numbers showed a surprise gain of 162,000 jobs, which some might see as a welcome break from the sluggish hiring and inflation concerns that have weighed on the administration.

However, Trump used the opportunity to vent his frustrations with the financial markets, the Federal Reserve, and U.S. trade partners. He claimed that success does not cause inflation, but rather 'stupidity' does.

The president's anger was directed at the idea that the strong job growth could lead to inflationary pressures. He declared it 'crazy' that stock markets fell on Friday due to concerns over inflation. Trump also blamed higher interest rates for U.S. government debt, saying America could retaliate by stopping trade with foreign countries.

The national debt has crossed the daunting threshold of $40 trillion, and rates on the 10-year U.S. Treasury note rose to 4.79% on Friday. Trump's own policies have contributed to inflation and high interest rates, which he wishes to blame on others.