US jobs increase Trump opposes rate hike

U.S. President Donald Trump stated that he prefers to lower interest rates and leaves the decision to Federal Reserve Chair Jerome Powell during the upcoming October meeting, in order to support economic growth and reduce pressures caused by rate hikes. He confirmed that the strong jobs report released in May reinforces expectations of a rate increase, but he believes that raising rates is a wrong decision and that they should instead be lowered. This comes amid market expectations of a roughly quarter-point increase in interest rates by the end of the year, despite Trump's opposition to it.

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