Labor Minister Lori Chavez-Dadrimer is discussing the weak job report of August, and the impact of customs tariffs on the job market and concerns related to the use of artificial intelligence.
Labor experts, including members of the Trump Administration, inform the Federal Reserve and the Chairman of the Board of Directors, Jerome Powell, in the latest disappointing report and signs of weakening the economy.
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Treasury Secretary Scott Besent published on Friday in Wall Street Journal, on the pretext that the expansion of the Federal Reserve of the Political Tools Group after the great recession has weakened its ability to manage the economy.
“The United States is facing short and medium -term economic challenges, along with the long -term consequences of the central bank, which put its own independence in danger,” Bessin wrote. “The independence of the Federal Reserve comes from the confidence of the public. The central bank must adhere to maintaining the confidence of the American people.”
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“I agree with Labor Minister Lori Chavez-Dyerimer on her comments that it is time to take thermal measures and low interest rates,” Rob Wilson, President of the United States Employment Company, told Fox News Digital. “The number of job opportunities available is the lowest level in 10 months. With a reduction in the interest rate, companies will start employing in larger numbers. Low rates will have a rippal effect across the economy.”
Jerome Powell, Chairman of the US Federal Reserve, during a press conference after the Federal Open Market Committee meeting in Washington, DC (Al Drao / Bloomberg via Getty Images / Getty Images)
The American economy added jobs At a slower pace in August. On Friday, the Ministry of Labor stated that employers added 22,000 jobs last month, which is a much lower number of 75,000 economists estimated by the economists.
“Everyone has done their work -the president in its identification talks, commercial deals, trade deficit, and ensuring that this American people have balanced this. Congress has in turn passed the” beautiful big bill “,” work tax discounts for Americans “. But Jerome Powell did not do it. It needs to reduce this interest rate. “
“The weak job numbers in August are a clear indication that interest rates may be very high,” Wilson added. “High interest rates slowed economic growth, as intended by the Federal Reserve, but the number of jobs is weak enough to justify the reconsideration of politics.”
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The unemployment rate also increased to 4.3 % in August, in line with expectations and an increase of reading 4.2 % in July.
“Unemployment is still fixed. Statistically, it is not present. This is the key to the American people, is that we tend to do everything we can in this workforce,” said Chavez -Darmeer.
“Now this is another thing that the Fed Bank can do, and Jerome Powell has not done his job,” she repeated. “And the president, and for this reason it was very straightforward about this. We need these interest rates.”
“The Federal Reserve must re -establish its credibility as an independent institution that focuses only on its legal mandate for the maximum amount of employment, stable prices and interest rates in the long term.”
the Federal reserve decreased Fox News Digital request for comment.
Meanwhile, President Donald Trump took the goal of the central bank and its leader in social reality.
“Jerome” was too late. “Powell should have reduced rates long ago. As usual,” it was too late! “Trump published in response to the August August report.
“The federal reserve strategy to cool the economy at higher rates – but perhaps very well,” said Wilson. “As inflation continues to about 2.7 % from the title and about 3 %, maintaining such a narrow monetary policy may push the economy from controlled cooling to excessive contraction.”
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He added: “It may be time to bring the Federal Reserve a better balance between soothing inflation and the maintenance of employment momentum.”
“Excessive use of non -standard policies threatens the crawl of the mission and institutional bloating with the independence of the central bank. The Federal Reserve must change the track,” Pisent added in his opening article.
“To protect its future and the stability of the American economy, the Federal Reserve must re -establish its credibility as an independent institution that focuses only on its legal mandate for the maximum amount of employment, stable prices and interest rates in the long -term moderate.”
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Secretary Chavez-Derimer admitted that the weak job report was “poorly performed”, but he referred to some fast food.
“It has been created nearly half a million jobs since the president took office. It will take some time,” she said. “What I like to see is that 100,000 jobs from federal workers who have fallen, and we will grow private sector jobs. Eighty -four percent of jobs from half a million from the private sector, and we want to continue to see this investment by those companies.”
Eric Rafeel in Fox Business contributed to this report.
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