Job Growth Slumps: Trump Calls for Rate Cuts Now
Submitted by MAGA
Posted 1 day ago
Weakness in the labor market is raising concerns as private sector job growth plummeted.
A report from ADP revealed that private sector hiring rose by a meager 37,000 jobs in May, marking the lowest increase in over two years.
This disappointing number comes on the heels of a downwardly revised 60,000 job gain in April and falls short of the anticipated 110,000 forecast.
Analysts are closely monitoring the upcoming Bureau of Labor Statistics nonfarm payroll report, expected to show a more favorable increase of 125,000 jobs and maintain an unemployment rate of 4.2%.
President Donald Trump has not held back in his response to these figures.
Shortly after the ADP report was released, he took to Truth Social to voice his frustration with Federal Reserve Chairman Jerome Powell, insisting that he "must now LOWER THE RATE."
Trump's call for action reflects a growing concern that maintaining high interest rates could hinder economic recovery and competitiveness, particularly compared to China and other nations where trade policies are more favorable.
Turning the heat up on Powell, Trump criticized his decision to keep rates steady, dubbing him "Too Late Powell," a move which underlines the urgency that many conservatives feel regarding economic policy during this crucial period.
The Fed Chairman, who met with Trump the previous week, emphasized the need for monetary policy decisions to be based on economic data rather than political pressure—a claim that even some of Trump’s supporters may view as out of touch with the economic realities facing American businesses and workers.
In the shadow of this bleak jobs report, the stock market showed mixed reactions, with the Dow Jones Industrial Average hovering around the flatline.
Concerns regarding trade policy uncertainty are pressuring investor sentiment, regardless of recent gains in tech stocks.
While the market may have shown resilience amidst trade tensions, the sluggish growth in job creation raises important questions about the sustainability of this optimism.
With Trump at the helm again, many are hopeful that his administration will take bold actions to revitalize job growth, particularly through adjustments to interest rates and pro-business policies.
As the economic landscape continues to shift, the conversation around these reports and their implications for American workers will be more crucial than ever.
Sources:
cnbc.com
cnbc.com
cnbc.com
A report from ADP revealed that private sector hiring rose by a meager 37,000 jobs in May, marking the lowest increase in over two years.
This disappointing number comes on the heels of a downwardly revised 60,000 job gain in April and falls short of the anticipated 110,000 forecast.
Analysts are closely monitoring the upcoming Bureau of Labor Statistics nonfarm payroll report, expected to show a more favorable increase of 125,000 jobs and maintain an unemployment rate of 4.2%.
President Donald Trump has not held back in his response to these figures.
Shortly after the ADP report was released, he took to Truth Social to voice his frustration with Federal Reserve Chairman Jerome Powell, insisting that he "must now LOWER THE RATE."
Trump's call for action reflects a growing concern that maintaining high interest rates could hinder economic recovery and competitiveness, particularly compared to China and other nations where trade policies are more favorable.
Turning the heat up on Powell, Trump criticized his decision to keep rates steady, dubbing him "Too Late Powell," a move which underlines the urgency that many conservatives feel regarding economic policy during this crucial period.
The Fed Chairman, who met with Trump the previous week, emphasized the need for monetary policy decisions to be based on economic data rather than political pressure—a claim that even some of Trump’s supporters may view as out of touch with the economic realities facing American businesses and workers.
In the shadow of this bleak jobs report, the stock market showed mixed reactions, with the Dow Jones Industrial Average hovering around the flatline.
Concerns regarding trade policy uncertainty are pressuring investor sentiment, regardless of recent gains in tech stocks.
While the market may have shown resilience amidst trade tensions, the sluggish growth in job creation raises important questions about the sustainability of this optimism.
With Trump at the helm again, many are hopeful that his administration will take bold actions to revitalize job growth, particularly through adjustments to interest rates and pro-business policies.
As the economic landscape continues to shift, the conversation around these reports and their implications for American workers will be more crucial than ever.
Sources:
cnbc.com
cnbc.com
cnbc.com
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