Trump blames Powell for weak jobs report. Rate cut certain, analysts say

Watch Trump blames Powell for weak jobs report. Rate cut certain, analysts say - Straight Arrow News on Dailymotion

Transcript

00:00The August jobs report is out and it's a big disappointment for President Trump.

00:04He's blaming the Federal Reserve, Democrats are blaming Trump's tariffs,

00:08and analysts say there is a 100% chance the Fed will cut the interest rate this month.

00:16BLS's August numbers revealed only 22,000 new jobs and a 4.3% unemployment rate.

00:22After the report was released, President Trump wrote on Truth Social,

00:25Jerome Tulade Powell should have lowered rates long ago.

00:29The administration is calling on the Federal Reserve to cut the rates.

00:33Powell has resisted, saying he wants to see how Trump's tariffs are going to affect the economy

00:38before any substantial cuts.

00:40On the other side of the aisle, Democrats are citing the jobs report as proof

00:44that Trump's tariff and economic policies are hurting everyday Americans.

00:49Congressman Don Beyer said inflation is heating up,

00:52prices and unemployment are both rising, and job growth is weakening sharply.

00:57After the jobs report was released, CME's FedWatch projected there is a 100% chance the Fed will cut interest rates

01:04at its Federal Open Market Committee meeting on September 16th and 17th.

01:09According to FedWatch, there is a 90.1% chance the Fed will set the target rate at 4% to 4.25%

01:16and a 9.9% chance the Fed will lower the target rate to 3.75% to 4%.

01:23There is a 0% chance the Fed will keep the current target rate of 4.25% to 4.5%.

01:29I'm Ray Bogan for Straight Arrow News.

01:31For more unbiased reporting, download the SAN app.