Trump links trade threats to demand for lower interest rates

President Donald Trump called on the Federal Reserve to cut interest rates after an August jobs report exceeded forecasts, threatening to halt trade with countries where the United States runs goods deficits if the central bank refuses. He also said lower rates would strengthen the country.

The economy added 162,000 jobs, while unemployment stood at 4.1%. Markets interpreted the report as reducing the likelihood of near-term rate cuts: Treasury yields and the dollar rose, while the Dow fell. Analysts said seasonal adjustments accounted for much of the gain.

Trump cited a Supreme Court tariff ruling, but the court held that a federal emergency-powers law did not authorize the president to impose tariffs. Economists have warned that restricting imports could raise costs for U.S. consumers.

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