Trump threatens to cut commercial ties with dozens of countries if the Fed does not lower interest rates
The President of the United States is using the good employment data for August to demand that the Federal Reserve cut interest rates, warning that if not, he will break deals with countries that have a trade surplus with his country.
US President Donald Trump is pressuring the Federal Reserve to cut interest rates, citing strong August job data. He warned that if the Fed doesn't act, the US will break trade ties with countries that have trade surpluses with the US. The US economy added 162,000 jobs in August, beating estimates, and Trump claimed this shows the country should have lower interest rates than any other country.
He urged the Fed, led by Kevin Warsh, to "be patriotic" and lower rates, threatening trade consequences for countries with trade surpluses.
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