President Trump Says Fed Should Not Raise Rates After Strong Jobs Report
President Trump stated that the Federal Reserve would be wrong to raise interest rates following a May jobs report that exceeded forecasts. His comments came ahead of nominee Kevin Warsh chairing his first policy meeting on June 16-17.
nbcnews.comHe made the remarks in an interview with NBC's Meet the Press that was recorded Friday and aired Sunday. The report showed nonfarm payrolls increased 172,000 in May after upward revisions to the prior two months, according to Bureau of Labor Statistics data.
The unemployment rate held steady at 4.3 percent. Traders responded by fully pricing in a quarter-point rate increase by the end of the year.
President Trump noted that strong economic reports have recently led markets lower due to expectations of higher rates. He added that the country should not be penalized with immediate rate increases when performing well. Warsh is set to chair his first Federal Open Market Committee meeting on June 16-17.
Goldman Sachs economists removed their forecast for a December 2026 rate cut and now expect two quarter-point cuts in June and December 2027. He stated that if inflation occurs, it can be stamped out later.
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