President Trump said August payrolls rose 162,000 — far above expectations, “two
to three times” forecasts — and urged the Federal Reserve to cut rates, arguing
US credit conditions are now much stronger and the country should have among the
world’s lowest interest rates. He warned that if rates are not lowered he will
halt trade with countries running large trade surpluses, citing a recent Supreme
Court tariff ruling as affirming presidential authority to act and calling such
measures preferable to tariffs. He urged the Fed, under its new leadership, to
act “patriotically,” saying high rates place the US at an unfair disadvantage.
