Trump presses Fed for lower rates after strong jobs report

President Donald Trump urged the Federal Reserve to lower interest rates, warning he could halt trade with countries where the United States runs a trade deficit. He said high borrowing costs put the U.S. at a disadvantage.

The U.S. added 162,000 jobs in August, well above economists’ expectations, while unemployment held at 4.1%. Traders subsequently increased bets that the Fed could raise rates at its September meeting rather than cut them.

A broad trade disruption could affect imports, push up prices and add to inflation pressures. The United States recorded a trade deficit of about $1.2 trillion with all trading partners last year, including more than $200 billion with China.

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