Washington DC

US President Donald Trump called for lower interest rates, arguing that the US is financially stronger and should have the lowest borrowing costs, as high rates put the US at an unfair disadvantage. 

In a lengthy Truth Social post, Trump said the United States is now a “much stronger credit” than it was a short time ago. “A STRONG COUNTRY MEANS A LOWER INTEREST RATE - IT’S A BETTER CREDIT…Very simple!” he said, stressing the US “should have the LOWEST RATE of any country in the World, like “the old days.”

Trump made the comments while celebrating the latest US jobs data. He said employers added 162,000 jobs in August and claimed the figure had exceeded expectations.

“Great jobs number just announced, breaking all estimates (except mine!) by double and triple - And you haven’t seen anything yet! EMPLOYERS ADDED 162,000 JOB IN AUGUST,” he said. 

According to the US Bureau of Labor Statistics, nonfarm payroll employment increased by 162,000 in August, while the unemployment rate remained unchanged at 4.1 per cent. Employment gains were recorded in food services and drinking places and local government education.

Trump also linked his call for lower interest rates to the US trade deficit, warning that Washington could stop trading with countries with which it runs a deficit if rates were not lowered. 

“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. ITS BETTER THAN TARIFFS!,” he said.

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He argued that such a step would be preferable to tariffs and urged the Federal Reserve to act, saying high interest rates put the United States at an “unfair disadvantage.”

“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 post read.