Trump Calls for Fed Cut After ADP Sees Hiring Collapse
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Trump Urges Fed to Cut Rates After Jobs Data
Above: Federal Reserve Chair Jerome Powell delivers remarks at the Federal Reserve on June 2, 2025, in Washington, D.C. Image copyright: Chip Somodevilla/Staff/Getty Images News via Getty Images
The Spin
Pro-Trump narrative
The Fed's stubborn refusal to cut rates is putting America at a severe economic disadvantage while Europe has already slashed rates nine times. Powell's outdated approach ignores clear signs of economic weakness. The central bank's political independence shouldn't mean ignoring economic reality when businesses desperately need lower borrowing costs to compete globally.
Anti-Trump narrative
The Fed is being cautious because of significant economic uncertainty created by unpredictable trade policies and Trump's ongoing tariff threats. Powell correctly maintains that rate decisions must be based on comprehensive economic data rather than political pressure, especially when wage growth remains robust and the overall economy shows underlying resilience.