Trump says 'Too Late' Powell must lower interest rates after weak ADP jobs report [View all]
Source: CNBC
Published Wed, Jun 4 2025 8:25 AM EDT | Updated 9 Min Ago
President Donald Trump on Wednesday angrily urged Federal Reserve Chairman Jerome Powell to cut interest rates, minutes after the payroll firm ADP reported its lowest private-sector jobs number in years.
“ADP NUMBER OUT!!! ‘Too Late’ Powell must now LOWER THE RATE,” Trump wrote on Truth Social. “He is unbelievable!!!” the president said of the central bank chairman, whom he has frequently pressured to shave rates in hopes of spurring economic growth. Trump added: “Europe has lowered NINE TIMES!”
ADP’s report showed private payrolls ticked up by just 37,000 in May, far below the Dow Jones forecast for 110,000. The count was the lowest monthly reading from ADP since March 2023.
The weak result came two days before the Bureau of Labor Statistics releases its own monthly U.S. nonfarm payrolls report, which is much more closely watched than ADP’s figure.
Read more: https://www.cnbc.com/2025/06/04/trump-powell-adp-jobs.html
Article updated.
Original article -
President Donald Trump on Wednesday angrily urged Federal Reserve Chairman Jerome Powell to cut interest rates, minutes after the payroll firm ADP reported the lowest private-sector jobs report in years.
“ADP NUMBER OUT!!! ‘Too Late’ Powell must now LOWER THE RATE,” Trump wrote on Truth Social.
“He is unbelievable!!!” the president said of the central bank chairman, whom he has frequently pressured to shave rates in hopes of spurring economic growth.
Trump added: “Europe has lowered NINE TIMES!”
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