U.S. Federal Reserve Chair Jerome Powell departs after holding a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, D.C., U.S., May 7, 2025.
Kevin Lamarque | Reuters
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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