U.S. President Donald Trump on Wednesday redoubled his calls for Federal Reserve Chair Jerome Powell to lower interest rates, noting that payroll processing firm ADP reported that job creation slowed in May.
"ADP number out. 'Too Late' Powell must now lower the rate. He is unbelievable. Europe has lowered nine times," Trump said in a Truth Social post.
Wednesday's ADP data came ahead of a more comprehensive employment report that will be released on Friday by the Labor Department's Bureau of Labor Statistics.
Trump, a Republican, has hammered Powell for months in often personal attacks, with his calls for the Fed chair's resignation weighing on U.S. stocks and financial markets.
Trump's repeated attacks have raised questions about the continued independence of the U.S. central bank under the Trump administration, although the U.S. president last month said he would not remove the Fed chair before his term ends in May 2026.
