Jobs report sparks inflation fears; Trump responds
The Labor Department said the unemployment rate held at 4.3% as Trump argued strong hiring should ease market worries.
- On Friday, the Labor Department reported the U.S. economy added 172,000 jobs in May, nearly double forecasters' expectations. President Trump reacted on Truth Social, arguing strong job growth should boost markets, not trigger selling.
- Fearing the strong data could pressure the Federal Reserve to raise interest rates, investors reacted with alarm. The Nasdaq Composite lost over 3.8% on Friday, marking its steepest single-day drop since April 2025.
- Kansas City Fed President Jeffrey Schmid said Thursday that inflation numbers have 'crept up into the 3.50% range,' presenting an early test for newly installed Fed Chair Kevin Warsh. High energy costs persist, with diesel averaging $5.38 a gallon.
- Trump has repeatedly tied his political fortunes to economic performance heading into November midterms, yet critics argue modern central banking has fundamentally changed how job growth translates to market gains. This disconnect undermines his economic messaging.
- How Warsh navigates his first Federal Open Market Committee meeting, scheduled for June 16-17, could prove decisive for markets and the administration's economic narrative. Analysts warn real wages will continue to fall, complicating the administration's growth story.
12 Articles
12 Articles
Trump Fumes at Nasdaq Plunge, Says 'Stocks Should Go Up, Not Down' After Bumper Jobs Report
President Donald Trump lashed out at financial markets on Friday after Wall Street responded to a stronger-than-expected jobs report by selling off sharply, with the tech-heavy Nasdaq closing down 4.18% — its worst single session since April 2025. The president, who has repeatedly tied his political fortunes to economic performance, posted his reaction to Truth Social shortly after the Bureau of Labour Statistics released its May 2026 employment…
Trump hails 'fantastic' jobs report, blasts 'loser' Sen. Tillis and Bolton aboard Air Force One
WASHINGTON — President Donald Trump on Friday hailed a strong jobs report as evidence of a booming economy, while floating potential government partnerships with artificial intelligence companies and taking shots at Senate Republicans and former officials during a wide-ranging gaggle aboard Air Force One. Trump spoke with reporters for about 20 minutes en route to… The post Trump hails ‘fantastic’ jobs report, blasts ‘loser’ Sen. Tillis and Bolt…
Trump: Strong jobs report should boost stocks despite market slide
President Donald Trump said that Friday’s jobs report should result in additional market growth, a line he has consistently pushed during his 17 months back in office. On Friday, the Bureau of Labor Statistics announced that new payrolls jumped by 172,000 in May, more than double the expectations of economic analysts. The unemployment rate stayed constant at 4.3%, while April’s job numbers were also revised up by roughly 100,000. “With a great J…
Jobs report sparks inflation fears; Trump responds
President Trump on Friday pushed back on inflation concerns driven by a strong jobs report, arguing robust growth should be viewed as a positive for markets. “With a great Jobs Report, like just announced, stocks should go up, not down,” Trump wrote on Truth Social. “That’s the way it was for 200 years. Growth does…
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