President Trump on Wednesday reiterated calls for Federal Reserve Chair Jerome Powell to lower interest rates, leaning on new data that found the fewest private sector jobs in more than two years were added in May.

“ADP NUMBER OUT!!! ‘Too Late’ Powell must now LOWER THE RATE. He is unbelievable!!! Europe has lowered NINE TIMES!” Trump wrote in a post on Truth Social.

The ADP report that Trump referenced found payrolls increased by 37,000 in May, which was below the 60,000 increase in April and the lowest month job total since March 2023, CNBC reported.

The report also found that in May, the annual pay grew at a 4.5 percent rate for those steady in their jobs and at a 7 percent rate for people who changed jobs.

The president met with Powell last week, amid his ongoing criticism over the

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