President Donald Trump renewed pressure on Federal Reserve Chair Jerome Powell to lower interest rates, citing a slowdown in job growth reported by payroll firm ADP.
Posting on Truth Social, Trump wrote, “Too Late Powell must now lower the rate. He is unbelievable!!! Europe has lowered nine times!”
This latest criticism follows a recent White House meeting where Powell firmly pushed back, reiterating that monetary policy decisions would depend solely on economic data.
According to a rare statement from the central bank, Powell emphasized the Fed’s legal mandate to support maximum employment and stable prices, adding that decisions would remain free from political interference.
Though Trump has repeatedly attacked Powell over rate policy, he recently said he has no plans to fire him. Still, speculation about Powell’s job security has unsettled financial markets, which rely on the Fed’s independence to ensure economic stability.
Earlier this month, the Fed kept rates unchanged.
