Trump says ‘Too Late’ Powell must lower interest rates after weak ADP jobs report

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Trump says ‘Too Late’ Powell must lower interest rates after weak ADP jobs report

U.S. Federal Reserve Chair Jerome Powell departs after holding a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, D.C., U.S., May 7, 2025.

Kevin Lamarque | Reuters

President Donald Trump on Wednesday angrily urged Federal Reserve Chairman Jerome Powell to cut interest rates, minutes after the payroll firm ADP reported the lowest private-sector jobs report in years.

“ADP NUMBER OUT!!! ‘Too Late’ Powell must now LOWER THE RATE,” Trump wrote on

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“He is unbelievable!!!” the president said of the central bank chairman, whom he has frequently pressured to shave rates in hopes of spurring economic growth.

Trump added: “Europe has lowered NINE TIMES!”

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