### Trump Demands Fed Rate Cut Following Disappointing Job Report

President Donald Trump has intensified his pressure on Federal Reserve Chairman Jerome Powell, urging a cut in interest rates shortly after a distressing jobs report. The payroll firm ADP reported that private-sector job growth for May was a mere 37,000, drastically missing the Dow Jones forecast of 110,000 jobs and marking the lowest reading since March 2023.

Taking to Truth Social, Trump vented his frustration moments after the report was made public. "ADP NUMBER OUT!!! 'Too Late' Powell must now LOWER THE RATE," wrote Trump, expressing disbelief at Powell's stance. He seized upon Europe's frequent rate cuts, claiming, "Europe has lowered NINE TIMES!"

Trump's criticism of Powell is not new; he has frequently pressured the Fed Chairman to reduce borrowing costs to accelerate economic growth. Last week, the two had a reportedly heated meeting at the White House centered on economic policies. White House press secretary, Karoline Leavitt, noted that Trump warned Powell that maintaining higher rates was detrimental, particularly in comparison to countries like China. Conversely, the Federal Reserve has reiterated that its monetary decisions need to be data-driven and insulated from political pressures.

Despite the ongoing tension, Powell has held firm, maintaining that the president lacks the legal authority to fire him before his term ends in May 2026. Although Trump suggested in April that he had "no intention" of removing Powell, his public frustration indicates the tensions are far from resolved. This frustration comes in stark contrast to the European Central Bank, which is anticipated to cut rates again amid easing inflation and sluggish growth in the euro zone.

As global economic uncertainties persist, particularly with Trump's tariffs adding to the volatility, all eyes are on how these contrasting approaches to monetary policy will unfold. The larger U.S. nonfarm payrolls report, due in two days, is expected to show an increase of 125,000 jobs for May, which will offer another crucial data point in this ongoing fiscal debate.