📉 ADP Report Sparks Outrage
President Donald Trump lashed out at Fed Chair Jerome Powell after the ADP report showed just 37,000 jobs added in May—well below the expected 110,000. Trump posted on Truth Social:
> “ADP NUMBER OUT!!! ‘Too Late’ Powell must now LOWER THE RATE. He is unbelievable!!! Europe has lowered NINE TIMES!”
🏛️ Powell Holds His Ground
Despite pressure, Powell refused to cut rates, saying monetary policy must be “guided by data, not politics.” Trump reportedly told Powell he was handing China an edge by keeping rates high.
🌍 Europe Cuts, Fed Stalls
Trump pointed to the European Central Bank, which is expected to cut rates for the eighth time since June 2024, as a contrast to the Fed’s inaction.
📉 What It Means for Markets
With global uncertainty rising and U.S. job growth weakening, crypto and stock traders are watching closely. Any rate shift could impact assets like Bitcoin ($BTC ) and Ethereum ($ETH ).
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