Trump Ratchets Up Pressure on Fed for Rate Cuts After May Job Numbers Disappoint
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Trump demands rate cuts after May’s ADP report showed only 37,000 new jobs. He accuses Fed Chair Powell of delaying action compared to Europe’s central banks. Powell maintains the Fed’s independence and holds rates steady despite political pressure. U.S. President Donald Trump criticized Federal Reserve Chair Jerome Powell and the central bank’s interest rate policy on Truth Social today, June 4, 2025. His comments followed a sharply disappointing May ADP employment report, which revealed only 37,000 private-sector jobs were added, far short of the 110,000 economists had forecast. Trump directly blamed Powell for what he termed ignoring clear signs of a weakening economy. He argued that Powell’s inaction was putting additional strain on American households and businesses. According to Trump, the Federal Reserve must respond quickly by cutting interest rates. Trump Points to Global Rate Cuts In his statement, Trump drew comparisons between the Fed’s position and that of central banks in Europe, where a few have already lowered interest rates. He accused Powell of lagging behind his global counterparts even as U.S. inflation shows signs of coo… The post Trump Ratchets Up Pressure on Fed for Rate Cuts After May Job Numbers Disappoint appeared first on Coin Edition .
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