7/5, 4:53 PM (Source: TeleTrader)
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Trump pressures Fed to cut rates despite job growth

Officials from the central bank of the United States don't know what they are doing, President Donald Trump said on Friday. He indicated that he wouldn't ease the pressure on the Federal Reserve to loosen financing conditions by stressing a cut in interest rates would benefit the economy.

The president's remarks contrast the nonfarm employment report for June, released today, which showed 224,000 jobs were added and that even more people entered the labor force. Trump stated he is "very happy" with the rebound in hiring.

"Our country continues to do really well," he asserted and expressed confidence that more records would be achieved but also stressed lower rates would turn the US into "a rocket ship."

Breaking the News / IT