Trump requires lower Powell rates after a weak ADP job report

president Donald Trump On Wednesday, Federal Reserve Chairman Jerome Powell called for reducing interest rates after ADP reported the weak job data.

ADP number is outside !!! Powell after it is too late The rate must now be reduced. It is incredible !!! Europe has reduced nine times! Trump wrote in a post on social truth.

Companies in the private sector Add 37,000 jobs only In May, ADP Treatment Company said on Wednesday.

The private sector added only 37,000 jobs in May, and the lowest level in more than two years, says ADP

This number is much lower than economists’ estimates for 110,000 jobs and reduce the revised reading of the previous month of 60,000. It has been the lowest since March 2023.

The ADP salary processing company said on Wednesday that companies in the private sector added only 37,000 jobs in May. (Joe Raedle / Getty Images)

“The uncomfortable is the word today,” said Nella Richardson, chief economist at ADP. “It may be difficult to make employment decisions in such an environment.”

President Recently criticized Powell In mid -May, indicating that the Federal Reserve Chair is behind the curve in reducing interest rates compared to America’s peers.

On Wednesday, President Donald Trump called on the President of the Federal Reserve, Jerome Powell, to reduce interest rates after ADP reported the poor job data. (Olivier Douliery / AFP via / Getty Images)

Trump met and Powell on Thursday At the White House for the first time in the second president, although the two did not discuss monetary policy.

Jerome Powell speaks after his candidacy for the Chairman of the Federal Reserve by President Donald Trump in the White House Roses Park on November 2, 2017. (Saul Loeb / AFP via Getty Images / Getty Images)

The central bank said in a statement, “The President Powell did not discuss its expectations for monetary policy, with the exception of the assertion that the path of policy will depend entirely on the economic information received and what this means for expectations,” the central bank said in a statement.