Trump Slams Powell After ADP Report: “Lower the Rate—Europe Has Cut Nine Times!”
President Donald J. Trump has renewed his criticism of Federal Reserve Chair Jerome Powell, demanding urgent rate cuts following the latest ADP employment report.
U.S. private sector job growth slowed sharply in May, with ADP reporting just 37,000 new jobs—far below expectations. The April figure was also revised downward to 60,000 from a previously reported 62,000. Economists surveyed by Reuters had forecast a gain of 110,000 jobs in May, highlighting a significant miss in private payroll momentum.
In a post on social media platform Truth Social, Trump exclaimed:
“ADP NUMBER OUT!!! ‘Too Late’ Powell must now LOWER THE RATE. He is unbelievable!!! Europe has lowered NINE TIMES!”
The comment comes amid rising pressure on the Fed to respond to slowing economic momentum, especially as global central banks, including the European Central Bank, have already begun aggressively easing.
Trump Highlights Global Disparity in Rate Policy
Trump’s reference to Europe’s nine rate cuts underscores a growing divergence in global monetary policy. While the ECB is widely expected to cut rates again, the Fed has held firm, awaiting more definitive signs of disinflation.
The ADP employment data, seen as a precursor to Friday’s Non-Farm Payrolls (NFP) report, has intensified calls for action, especially among those warning that delayed rate cuts could hamper growth heading into Q3.
Political Pressure Builds Ahead of Key Fed Decision
Trump’s message adds to growing political pressure on the Federal Reserve, particularly as the U.S. economy faces macro headwinds, including trade tensions and ongoing fiscal uncertainty.
With the Fed’s next policy meeting approaching, markets will be closely watching Powell’s response—not only to economic data, but also to the increasingly vocal calls from the White House for a shift in policy.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
