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What does Trump’s second term for Washington, Business and the world mean
Donald Trump has intensified his attacks on J Powell, calling the US Federal Reserve Chair to a “full point” after official data after pointing to a weak labor market.
According to data released by the Bureau of Labor Statistics on Friday, the US economy added 139,000 jobs in May, compared to the 147,000 posts added in April, according to data released by the Labor Statistics Bureau on Friday.
BLS also amended the march data, which led to average jobs for the year up to May 124,000 compared to 168,000 in 2024.
“It’s too late ‘a disaster!” Trump wrote after his release on his true social stage, using a surname, he has given to the Fed chair. “Despite that, our country is doing very well. A full point, go for rocket fuel!”
Trump said, “He is paying a destiny to our country,” Trump said, referring to the cost borrowed on American debt.
When asked by reporters later that he is expected to be the next fed chair, Trump replied: “It is coming out very soon.”
He had a “very good idea” that the person would have, he added without detail.
Congress’s fiscal guards warned this week that the President’s landmark will be “Bada, Beautiful Bill” Add $ 2.4TN to US debt By 2034. The report of the Congress budget office came when many senior officials on Wall Street were already warning that such high debt levels could come in the bond market, which increases yields.
Trump’s new attacks on Pavel come after the European Central Bank on Thursday Rate cuts By another quarter point. The ECB has reduced the cost of lending in the last one year.
Fed has stopped a rate-cutting cycle starting in 2024 as policy maker weighs the effects of Trump’s tariffs, which many economists expect to increase inflation during development. Trump and Powell met last week, the US President told the Fed chief that he was making a “mistake” by not cutting rates.
Pavel has held firmly in front of Trump’s pressure, however, stating the President that its policy decisions will “depend on fully upcoming economic information”.
The Friday data of BLS defeated the market expectations, coming before the 126,000 predicted by the economists voted by Bloomberg. The unemployment rate remained stable at 4.2 percent.
Despite being better than anticipated – which Trump said as a “great job number” – economists stated that the amendment of the earlier data suggested that the market was weakening.
In the US Investment Bank Jeffers, Thomas Simmons said, “The headline beat is not almost as impressive as it appears at first glance.” “Job growth has clearly moved to a low trajectory.”
Mark Gianni, the chief American economist at Barclays, said: “We expect to slow down during the year.”
OECD warned this week that the global economy was growing in its weakest period of development since the Kovid -19 epidemic as Trump’s trade war weighs on the world’s top economies.
The BLS said that an average of an average earnings increased by 0.4 percent to $ 36.24, BLS said, “an increase of 3.9 percent in the last one year.”
After the data was released, the yield of the treasury increased as traders withdrew the minor expectations to cut interest rate this year. The futures markets are now pricing in a small occasion that Fed can cut the rates once more this year, although two cuts remain their central expectation.
“For Fed, this means that they have been in grip for some time,” Jianni said. “The latest employment report gives them no reason for being worried.”
S&P increased 1.1 percent in the afternoon trading in New York.
The number of Friday’s jobs was pulled by a continuous slide in the number of government jobs amidst an attempt to cut cost by the so -called department of government efficiency, led by Elon Musk last week.
Kasturi and Trump’s relationship Explosion occurred in sharpness This week the executive of billionaire Tech left his role and exploded the bill as a “disgusting disgusting” by signing the President, which would swell the US debt.
But Dog’s efficiency drive has already damaged 59,000 federal government employees according to BLS. It has become slightly offset due to increasing leisure and hiring in hospitality areas.
