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US Federal Reserve Chairman Jerome Powell is sent after a press conference after a two-day meeting of the Federal Open Market Committee at the Washington, Columbia District, May 7, 2025.
Kevin Lamark | Reuters
President Donald Trump On Wednesday, anger called the chairman of the federal reserve system Jerom Powell To reduce interest rates, a few minutes after wage ADP reported its lowest private sector job number In years.
“ADP number !!!” Too late “Powell should now reduce the rate,” Trump wrote further The truth is social.
“He’s incredible !!!” The president said about the chairman of the Central Bank, which he often pressured to cut the rates in the hope of stimulating economic growth.
Trump added: “Europe has fallen nine times!”
Adp’s report In May, private salaries marked by only 37,000 were much lower than the Dow Jones forecast for 110,000.
The number was the lowest monthly reading from the Adpisia since March 2023.
The weak result came two days before the Labor Statistics Bureau releases its own monthly salary report in the US, which is much more closely monitored than the ADP figure.
Economists surveyed Dow Jones expect the upcoming report to show an increase in 125,000 jobs in May.
Trump met Powell Last week, the White House to discuss the economy, but readings on both sides believe that a private meeting became confrontational.
White House press secretary Caroline Levit said Powell said he was “mistaken without reducing interest rates, which puts us into the economic shortage for China and other countries.” The Fed said Powell emphasized Trump that the monetary policy should be guided by economic data, not politics.
This is conducting the news. Please update updates.
