Trump says if Fed doesn't cut rates, he'll stop trading with some nations
U.S. President Donald Trump closes his eyes before signing an executive order calling for more research and flexibility on vaccines, in the Oval Office of the White House in Washington, Aug. 10. AFP-Yonhap
WASHINGTON — U.S. President Donald Trump on Friday said that unless the Federal Reserve cuts interest rates, he would stop trading with countries with which the United States has a deficit.
"High interest rates put the U.S.A. at a very unfair disadvantage, and I won't allow that to happen!" said Trump, who has repeatedly demanded that the Fed cut rates.
The Bureau of Labor Statistics on Friday reported stronger-than-expected job creation in August, prompting traders to boost bets on a hike later this month.
"We should have the LOWEST RATE of any country in the World ... LOWER THE RATE OR I’LL STOP TRADING WITH COUNTRIES WITH WHICH WE HAVE A DEFICIT," Trump said in a social media post.