Trump pressed Fed to cut rates as traders priced in a 2026 hike
What's next: Kevin Warsh chairs his first Fed meeting on June 16-17 after May payrolls rose 172,000 and Treasury prices fell.
President Donald Trump renewed his push for lower US interest rates, arguing the Federal Reserve should not raise borrowing costs after a stronger-than-expected jobs report. In an NBC interview, Trump said a rate increase would be the wrong move and repeated that the central bank should cut instead. The remarks come days after May nonfarm payrolls rose by 172,000, beating forecasts, while the unemployment rate held at 4.3%. The report triggered a Treasury sell-off and led traders to fully price in a quarter-point Fed rate increase by year-end. The pressure lands on Fed Chair Kevin Warsh ahead of his first Federal Open Market Committee meeting on June 16-17, with inflation still running above target.