President Donald Trump reacted angrily to an August jobs report showing a surprise gain of 162,000 positions, rejecting the widely accepted view that stronger hiring can add to inflationary pressure. Speaking from the Oval Office, Trump criticized financial markets, the Federal Reserve and U.S. trade partners as stocks fell on inflation concerns. The economy has grown at roughly 2% annually during his second term, below the pace under the Biden administration, while inflation, higher Treasury yields and debt exceeding $40 trillion have undercut his promise of an immediate economic boom. Trump argued that lower interest rates could produce GDP (gross domestic product) growth of 12% to 15%, despite the risk of worsening inflation. His economic approval rating was 32% in mid-summer, down from 50% among voters during the 2018 midterm cycle. Administration officials point to artificial intelligence, tariffs, tax cuts and anti-fraud efforts as sources of future growth, while economists warn that even annual growth above 3% for a decade would only stabilize the debt burden and that reducing deficits would require spending cuts and tax increases.