US EditionTrump says ‘Too Late’ Powell must lower interest rates after weak ADP jobs report
- On Wednesday, ADP reported that U.S. Private payrolls increased by only 37,000 jobs in May, far below forecasts of 110,000 new jobs.
- This weak job growth followed revised April gains and continued trade-related economic uncertainty that fueled President Trump’s calls for Federal Reserve interest rate cuts.
- Trump met with Fed Chair Jerome Powell last week, pressed him publicly and on social media to lower rates, branding Powell 'Too Late' for not reducing borrowing costs sooner.
- Market odds for Fed rate cuts increased to 75% for June or July, with Treasury yields falling and economists projecting unemployment rising to 4.2% by September.
- The ADP report added weight to expectations of a slowing labor market and stronger pressure on the Fed to ease monetary policy despite concerns about inflation and data reliability.
100 Articles
100 Articles
US President Donald Trump wants the Federal Reserve to cut interest rates to avoid a slowdown in the labor market. But the puzzle is getting more complicated for the US central bank as companies warn that inflation could pick up again.
President Trump urges Jerome Powell to cut interest rates. Here's what to expect.
Private employers added just 37,000 jobs last month, less than expected. In response, President Trump urged Jerome Powell and the Federal Reserve to lower interest rates. CBS News business analyst Jill Schlesinger breaks down what to know.
Private companies in the United States created significantly fewer jobs in May than markets anticipated, according to figures released on Wednesday that sparked the anger of President Donald Trump. Last month, 37,000 jobs were created in the private sector, compared to 60,000 in April (revised slightly downward), according to the monthly ADP/Stanford Lab survey. Analysts expected a surge of 110,000 new jobs, according to the consensus published …
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