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President Trump Expresses Frustration Over Economic Growth and Interest Rates Despite Positive Jobs Report

President Trump Expresses Frustration Over Economic Growth and Interest Rates Despite Positive Jobs Report

President Trump voiced frustration regarding the U.S. economy, specifically inflation and high interest rates, even after a surprisingly positive jobs report. The August jobs report indicated a gain of 162,000 jobs, which typically would be seen as a positive economic indicator. However, President Trump criticized the financial markets, the Federal Reserve, and U.S. trade partners, arguing that 'success does not cause inflation. Stupidity causes inflation.' He dismissed the economic concept that increased job growth could contribute to inflationary pressures. For 20 months, President Trump has promised an economic boom, but the economy has grown at approximately 2% annually during his second term, which is slower than during the Biden administration. He attributed the inability to achieve stronger growth to higher interest rates on U.S. government debt, suggesting that America could retaliate by halting trade with foreign countries. The national debt has surpassed $40 trillion, and rates on the 10-year U.S...
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Treasury Secretary Scott Bessent Opposes Immediate Fed Rate Hikes Amid White House Pressure Campaign

Treasury Secretary Scott Bessent Opposes Immediate Fed Rate Hikes Amid White House Pressure Campaign

Treasury Secretary Scott Bessent has voiced opposition to immediate interest rate hikes by the Federal Reserve, attributing current inflation to supply shocks, particularly oil prices. He argues that there is no urgency for the Fed to act until inflation demonstrates 'second- and third-round effects.' This stance comes amidst an intense pressure campaign from the White House, with President Trump and economic advisor Peter Navarro publicly advocating for rate cuts. Navarro has even referred to some members of the Federal Open Market Committee (FOMC) as 'clowns,' warning that rate hikes would negatively impact key U.S. industries. Despite this pressure, market expectations for a September Fed rate hike remain high, with nearly 60% odds, as indicated by the CME FedWatch Tool. The U.S. economy added 162,000 nonfarm jobs in August, exceeding expectations, and the unemployment rate held steady at 4.1%. Inflation, however, remains above the Fed's 2% target, with the all-items index at 3.4% for the past 12 months...
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President Trump Pressures Federal Reserve for Interest Rate Cuts, Threatens Trade War

President Trump Pressures Federal Reserve for Interest Rate Cuts, Threatens Trade War

President Trump has publicly called on the Federal Reserve to lower interest rates, citing the strength of the U.S. economy and recent job growth. Following an August jobs report that showed U.S. employers added 162,000 jobs, significantly exceeding economists' expectations of 53,000, President Trump argued that a strong economy warrants lower interest rates. He posted on Truth Social, stating, “Lower the interest rates because the U.S.A. is a much stronger credit than it was just a short time ago! A STRONG COUNTRY MEANS A LOWER INTEREST RATE – IT’S A BETTER CREDIT.” He further escalated his demands by threatening to cut off trade with countries with which the U.S. has a deficit if the Fed does not comply. The central bank has maintained interest rates at a range of 3.5 to 3.75% for its last five meetings, as inflation remains above its 2% target. Vice President JD Vance and Treasury Secretary Scott Bessent have also voiced support for lower rates, with Vance stating, “We believe that the Fed should be low...
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Asia tech shares rally, others hesitate as oil climbs

Asia tech shares rally, others hesitate as oil climbs

By Wayne Cole SYDNEY, Sept 7 (Reuters) - Asian tech shares rallied on Monday as the robust U.S. jobs report was seen as positive for global growth even as it narrowed the odds on a rise in interest rates, while oil edged higher after the U.S. and Iran attacked ships in the Gulf.
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President Trump Appoints Kevin Warsh as Federal Reserve Chair, Initiating Comprehensive Reforms

President Trump Appoints Kevin Warsh as Federal Reserve Chair, Initiating Comprehensive Reforms

On March 4, President Trump nominated Kevin Warsh to succeed Jerome Powell as the Chairman of the Federal Reserve. The Senate confirmed Warsh's nomination on May 13, and he assumed leadership of the Fed and its Open Market Operations Committee (FOMC) on May 22. In his inaugural address, Warsh pledged a profound transformation of the Federal Reserve, emphasizing reform and learning from past successes and failures. His vision includes moving beyond static frameworks and outdated models to better address current complexities, while upholding clear standards of integrity and institutional performance. To achieve this, Warsh established five working groups, each led by distinguished economists, including Nobel laureates. These groups are tasked with reviewing various aspects of the Fed's operations: communication, balance sheet utilization, data sources for economic signals, productivity and employment impacts of new technologies like Artificial Intelligence, and inflation regimes. This initiative signals a si...
Reuters Reuters
Asia tech shares rally, others hesitant as oil rises

Asia tech shares rally, others hesitant as oil rises

By Wayne Cole SYDNEY, Sept 7 (Reuters) - Asian tech shares rallied on Monday as the robust U.S. jobs report was seen as positive for global growth even as it narrowed the odds on a rise in interest rates, while oil edged higher after the U.S. and Iran attacked ships in the Gulf.
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Oil prices keep rising and weigh on Wall Street

Oil prices keep rising and weigh on Wall Street

U.S. stocks are drifting lower in their return to trading following a three-day weekend
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US stocks drift lower following their return from a 3-day weekend

US stocks drift lower following their return from a 3-day weekend

U.S. stocks are drifting lower in their return to trading from a three-day weekend after the latest fighting in the war with Iran pushed oil prices higher
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House Speaker Mike Johnson Touts Booming U.S. Manufacturing and Job Growth Under GOP Policies

House Speaker Mike Johnson Touts Booming U.S. Manufacturing and Job Growth Under GOP Policies

House Speaker Mike Johnson (R-La.) has asserted that American manufacturing is experiencing a boom and that U.S. workers are "WINNING again" due to Republican policies. In a post on X, Johnson credited GOP initiatives for improving economic opportunities, leading to "Bigger paychecks" and "No Tax on Tips or Overtime." He highlighted the addition of "ONE MILLION private-sector jobs" and "TRILLIONS in investment coming into America," describing this trend as a "MADE IN AMERICA comeback." Johnson's remarks align with recent economic data, which shows U.S. manufacturing activity expanding for the eighth consecutive month in August, with the ISM Manufacturing PMI at 54.6%. The National Association of Manufacturers reported that manufacturing contributed $3 trillion annually to the U.S. economy in the first quarter of 2026 and employed nearly 12.6 million workers. Treasury Secretary Scott Bessent also supported this view, attributing a manufacturing revival to President Trump’s "America First" policies, which he...
TheStreet TheStreet
Fed rate-hike threat heats up this week as August inflation data looms

Fed rate-hike threat heats up this week as August inflation data looms

Hot August CPI, PPI data could push Kevin Warsh’s Fed toward a September interest-rate hike.
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President Trump Threatens to Bar Canadian Aircraft Maker Bombardier from U.S. Market

President Trump Threatens to Bar Canadian Aircraft Maker Bombardier from U.S. Market

President Trump has issued a warning to Canadian aircraft manufacturer Bombardier, stating that the company will no longer be permitted to sell its products in the United States unless it establishes manufacturing operations within the country. This declaration was made via a post on his Truth Social account, where President Trump criticized Bombardier's products and accused the company of benefiting from American buyers and infrastructure without contributing domestically. He asserted that if Bombardier wishes to access the U.S. market, it must build its products there and cease treating America as a 'piggybank.' This is not the first instance of President Trump targeting Bombardier; in January, he threatened a 50% tariff on Canadian aircraft sold to the U.S. and considered decertifying Bombardier aircraft, citing Canada's alleged refusal to certify certain U.S.-made Gulfstream planes. Bombardier, founded in 1942, expanded into the aerospace sector in 1986 with the acquisition of Canadair.
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President Trump Threatens Trade Halt Amid Rising U.S. Trade Deficit

President Trump Threatens Trade Halt Amid Rising U.S. Trade Deficit

The U.S. trade deficit significantly increased in July, reaching its highest level in over a year. Data released by the U.S. Census Bureau and the U.S. Bureau of Economic Analysis showed the goods and services deficit grew by $17.4 billion month-over-month, from $71.2 billion in June to $88.6 billion in July. This surge was driven by a $6.6 billion decrease in U.S. exports, primarily in crude oil and gold, and a $10.8 billion increase in imports, largely due to technology components like semiconductors and computer parts, likely to support the artificial intelligence sector. Despite this monthly increase, White House senior deputy press secretary Kush Desai stated that year-to-date figures indicate a 29.6 percent decrease in the goods and services deficit compared to the same period in 2025, with exports growing by 12 percent and imports by 1.9 percent. President Trump reacted to the July figures with an all-caps Truth Social post, threatening to halt trade with countries with which the U.S. has a deficit ...