Trump Escalates Fed Criticism Amid Weak Jobs Data, Pressuring Rates

Former President Donald TRUMP intensified his attacks on Federal Reserve Chair Jerome Powell following a dismal ADP employment report. Private payrolls grew by just 37,000 in May—the slowest pace in over a year—far below the 110,000 jobs economists expected. Trump blasted Powell on Truth Social, demanding immediate rate cuts: "LOWER THE RATE."

The weak data comes as global central banks like the European Central Bank have already begun easing cycles. Trump argues the Fed's hesitation puts the U.S. at a competitive disadvantage. Meanwhile, Powell maintains the Fed will remain data-dependent, resisting political pressure.

Markets now brace for Friday's official jobs report, with the ADP miss heightening recession fears. The clash highlights growing tension between monetary policy independence and election-year economic pressures.