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'Powell is unbelievable': Trump hits at Fed chair after weak jobs data, demands interest rate cuts
US President Donald Trump is ramping up pressure on Federal Reserve Chairman Jerome Powell after May’s private sector jobs report showed just 37,000 new jobs, far below the projected 110,000. The data, released by ADP, marks the weakest payroll reading since March 2023. Taking to Truth Social, Trump called Powell 'unbelievable' and renewed his demand for immediate interest rate cuts to reignite economic growth.
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