President Trump has opened his first assault on the Federal Reserve under the chairmanship of Kevin Warsh by threatening to stop trade with some countries if the central bank refuses to lower rates.
In a post on Truth Social, the president hailed a better-than-expected jobs report – 162,000 jobs were added in August – and then declared the nation had “a much stronger credit than it was just a short time ago!”
“We should have the LOWEST RATE of any country in the World, like ‘the old days,’” he wrote. “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. IT’S BETTER THAN TARIFFS!”
Trump added, “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!”
The Fed offered no public comment on the president’s statement. The central bank’s policymaking Federal Open Market Committee meets again on Sept. 15-16.
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