From Daily Mail: Donald Trump boasted ‘JOBS, JOBS, JOBS!’ Friday as new figures showed employers sharply stepped up their hiring in June, adding a robust 224,000 jobs, an indication of the economy’s durability after more than a decade of expansion.
But he launched a new attack on the Federal Reserve because the strong performance on jobs makes it far less likely that the central bank will cut the cost of borrowing this month.
Most investors have anticipated a rate cut in July and perhaps one or two additional Fed cuts later in the year.
But the initial reaction in the financial markets suggested increased uncertainty about Fed rate cuts.
The Dow Jones Industrial Average fell 98.25 points, or 0.36%, at the open to 26,867.75. The S&P 500 opened lower by 11.57 points, or 0.39%, at 2,984.25. The Nasdaq dropped 46.95 points, or 0.57%, to 8,123.28 at the opening bell.
At the White House Trump said of the new jobs figures: ‘We are very happy about it. We are going to be breaking records.’
But then he turned on the central bank, whose chairman Jerome Powell he appointed and said: ‘We don’t have a Fed that knows what they’re doing. If we had a Fed that would lower interest rates we would be lock a rocket ship.’
Read the whole story here.
According to Congressman Jim Banks (R-Ind):
“224,000 new jobs created
3.1% wage increase
105 straight months of job growth
More Americans than estimated entering the workforce
The latest Labor Dept. report shows why pro-growth policies mean more jobs & higher incomes for all Americans.”
Sounds like excellent news for America!
Yet it will not be enough to satisfy those with TDS. They will just continue to wallow in their perpetual hate and temper tantrums.
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