Trump fumed as jobs numbers plummeted!
The US private sector jobs report, which added just 37,000 jobs in May, was the worst data since March 2023 and sparked political drama as President Trump publicly attacked Fed Chairman Jerome Powell for keeping interest rates high.
On Truth Social, Trump berated Powell for cutting US interest rates immediately, claiming that Europe has repeatedly cut rates — even though the news was just a rumor.
But Powell stood his ground. Despite meeting Trump at the White House last week, he insisted that monetary policy would be determined by economic data, not political pressure.
Meanwhile, financial warnings are growing louder. JPMorgan CEO Jamie Dimon warned that persistently high 10-year bond yields and soaring national debt could cause “the system to collapse.”
With the unemployment rate hovering around 4.2%, and the official jobs report due out Friday, Trump’s economic recovery narrative is faltering — caught between inflation and a weak job market.
