Jobs rebound, making rate hike more likely

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White House Headlines - September 4, 2026

White House Headlines - September 4, 2026

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It’s Friday … and no one deserves a long weekend more than our readers!

How about that jobs report? 

How about that jobs report? 

Redistricting battle heats up again

Clancy verdict not reached 

Programming note: Hello! We are Colin Meyn and Steff Danielle Thomas filling in for Cate. Please send your tips, comments and story ideas to cmeyn@thehill.com or sthomas@thehill.com.

Also: The team will be taking a break for Labor Day. But we will be back in your inbox on Tuesday! 

This jobs report is good news for Trump, right?:

The Associated Press | Alex Brandon and Nam Y. Huh

Today’s jobs report showed the U.S. economy added 162,000 jobs in August, beating expectations that employers added about 53,000 jobs last month. The unemployment rate held steady at 4.1 percent.  

That’s a good sign for the health of the economy, after last month’s report showed a slight drop in jobs in July (that was revised up today to plus 21,000 jobs).  

But it doesn’t help President Trump’s push to keep interest rates down.  

Why not? The Federal Reserve has two jobs: keep inflation in check and ensure a stable job market.  

The better-than-expected job numbers will focus the Fed “squarely on controlling inflation when they meet next in September,” Bill Adams, chief U.S. economist for Fifth Third Commercial Bank, said in a statement. 

Inflation remains around 3.4 percent, well above the Fed’s 2 percent target. Markets are now pricing in about a 60 percent chance of a rate hike later this month, according to CME Group’s FedWatch tool, up from 50 percent on Thursday.  

Those are fighting words: So far, Trump has had nothing but praise for new Federal Reserve Chair Kevin Warsh. That could change if Warsh oversees a rate hike weeks before the midterms.  

Trump celebrated the jobs numbers in a post on Truth Social Friday, while also threatening a new trade war if rates don’t go down.  

“LOWER THE RATE OR I’LL STOP TRADING WITH COUNTRIES WITH WHICH WE HAVE A DEFICIT,” the president wrote.  

“The Fed Board, with its great new leader, must get smart – BE PATRIOTS for a change,” he added. “High interest rates put the U.S.A. at a very unfair disadvantage, and I won’t allow that to happen!” 

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