Story perspectives

Trump Calls for Rate Cuts Following 172 K JobsTrump Calls for Rate Cuts Following 172 K Jobs

6/9/2026

31 2

Summary

Trump Urges Cuts

U.S. President Donald Trump told Meet the Press he respects Federal Reserve (Fed) Chair Kevin Warsh and urges lower interest rates.
He cited the May jobs report, which added 172,000 jobs and left unemployment unchanged.
Stock indexes fell on Friday after the jobs data sparked worries that the Fed could raise rates.
National gasoline averaged $4.17 per gallon, up $1.19 since the Iran war began but down from $4.56.

Summary

Trump Targets Powell

The U.S. Department of Justice opened an investigation of former Fed Chair Jerome Powell over the renovation of the Federal Reserve (Fed) building.
President Donald Trump told Fox News in April 2026 he wanted to fire Powell, said new chair must be “totally independent,” and later urged rate cuts.
Kevin Warsh holds one vote on the 12-member Federal Open Market Committee (FOMC) and cannot shape policy before the June 16-17, 2026 meeting.

Summary

Bessent Urges Wait

Inflation rose to 3.8 percent in April after Iran closed the Strait of Hormuz, raising fuel prices.
Bloomberg’s economist poll expects inflation to reach 4.2 percent in May when data are released Wednesday.
Treasury Secretary Scott Bessent said the Federal Reserve (Fed) should wait for clearer evidence of the conflict’s inflationary impact before cutting rates.
Cleveland Federal Reserve Bank President Beth Hammack warned that trends could soon require Fed action on inflation.

1 of 3

Trump Urges Cuts

U.S. President Donald Trump told Meet the Press he respects Federal Reserve (Fed) Chair Kevin Warsh and urges lower interest rates.
He cited the May jobs report, which added 172,000 jobs and left unemployment unchanged.
Stock indexes fell on Friday after the jobs data sparked worries that the Fed could raise rates.
National gasoline averaged $4.17 per gallon, up $1.19 since the Iran war began but down from $4.56.

1 / 3