Private-sector hiring in the U.S. nearly stalled in May, with just 37,000 jobs added—the lowest monthly gain in more than two years. The weak data triggered an all-caps outburst from President Donald Trump, who blamed Federal Reserve Chair Jerome Powell for not cutting interest rates fast enough.
“ADP NUMBER OUT!!! ‘Too Late’ Powell must now LOWER THE RATE. He is unbelievable!!! Europe has lowered NINE TIMES!” Trump wrote on Truth Social.
