Donald Trump’s crusade to cut interest rates took a bizarre new turn on Friday when he threatened to cut off trade with some unnamed countries if the Federal Reserve doesn’t do his bidding.
The president’s ultimatum came after the release of a surprisingly strong jobs report.
His brag about the better-than-expected jobs market on Truth Social quickly morphed into a capital-letter rant about why the United States doesn’t have the world’s lowest interest rates.
“Great jobs number just announced, breaking all estimates (except mine!) by double and triple—And you haven’t seen anything yet! EMPLOYERS ADDED 162,000 JOB IN AUGUST,” he wrote.
“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…Very simple! We should have the LOWEST RATE of any country in the World, like ‘the old days.’ Without the United States agreeing to allow them their big surpluses, and we could stop that immediately, they would no longer be considered financially ELITE! LOWER THE RATE OR I’LL STOP TRADING WITH COUNTRIES WITH WHICH WE HAVE A DEFICIT, which the U.S. Supreme Court, in its ridiculous and very costly Tariff decision, strongly acknowledged ‘the President’ has an absolute right to do."
Trump ramped up the pressure on his new Fed chair, Kevin Warsh, to act and cut rates.
“IT’S BETTER THAN TARIFFS! The Fed Board, with its great new leader, must get smart—BE PATRIOTS for a change. High interest rates put the U.S.A. at a very unfair disadvantage, and I won’t allow that to happen!”
This is a breaking story and will be updated.
