Former President Donald Trump renewed his call for the Federal Reserve to lower interest rates following a stronger-than-expected April jobs report. Despite the positive employment data, which showed an increase of 177,000 nonfarm payrolls, Trump argued that consumers are still waiting for price relief and urged the Fed to act. This continues Trump’s pattern of attempting to influence the Fed’s decisions, challenging its traditional independence. While Trump has recently softened his criticism of Fed Chair Jerome Powell, he reiterated his belief that he understands interest rates better than Powell. Trump’s comments contrast with his earlier blame of former President Joe Biden for recent economic contractions.
— new from CNBC
