US FRB needs additional rate cuts despite strong employment statistics = President Navarro

[Washington, 4th, Reuters]-US President Navarro (Director of Trade and Manufacturing Policy), on the 4th, has lost the unemployment rate in the United States, and its employment has been growing steadily. He expressed the idea that rate cuts should not be hindered.

According to the September employment statistics released by the Ministry of Labor, the unemployment rate fell to 3.5%, the first level in about 50 years. Although wage growth was slow, it was confirmed that employment increased steadily. [nL3N26P2ML]

Navarro said in an interview with CNN: “It was a very good result, but this should not prevent the FRB from aggressively cutting interest rates because the US economy is slowing down, not the dollar. “It's only because the US market is being hampered by the overestimation of the market,” he said.

The Ministry of Commerce announced the balance of trade in August was $ 54.9 billion, an increase of 1.6% from the previous month. However, the deficit with China has shrunk. [nL3N26P2OJ]

President Trump has repeatedly called on the FRB to cut interest rates, stating that the US policy rate is too high and that the strong dollar is hurting the US manufacturing industry. [nL3N26M3H3]

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