Trump slams Fed Chair Powell once again originally appeared on TheStreet .
President Donald Trump has reignited his criticism of Federal Reserve Chair Jerome Powell following a softer-than-expected ADP payroll report, using the numbers to argue for urgent interest rate cuts.
The ADP National Employment Report is a monthly snapshot of private-sector job growth in the U.S. and is closely watched as a preview to official government jobs data.
Trump is using the weak ADP reading to pressure Powell to cut rates, arguing that the Fed is "too late" compared to Europe, where central banks have made multiple rate cuts to support their economies.
This is not the first time the President has criticized Powell to cut rates.
On April 17, Trump warned the Fed Chair to cut rates due to inflation.
Crypto markets didn't escape the macro jitters.
As of June 4, Bitcoin was flat to $105,106 , slowly rising, while XRP was trading at $2.25 , as per Kraken . However, Ethereum has been slowly picking pace with 0.42% uptick in price in the last 24 hours. The crypto market is showing signs of slight recovery amid the geopolitical pressures intensifying.
On June 3, Trump said that Chinese President Xi Jinping has been "very tough" to negotiate with and cast some doubt on the progress with trade. On Truth social President Donald Trump also acknowledged that he likes "President Xi of China, always was and will".
Meanwhile, U.S. equities remained buoyant — the S&P 500 was up 0.58%, Nasdaq rose 0.81%, and the FTSE 100 gained 0.24%.
Trump slams Fed Chair Powell once again first appeared on TheStreet on Jun 4, 2025
This story was originally reported by TheStreet on Jun 4, 2025, where it first appeared.
