U.S. President Donald Trump on Wednesday renewed his public pressure on Federal Reserve Chair Jerome Powell to lower interest rates, citing a disappointing May jobs report from payroll processor ADP.

“ADP number out. ‘Too Late’ Powell must now lower the rate. He is unbelievable. Europe has lowered nine times,” Trump posted on Truth Social.

The comments came in response to new ADP data showing that U.S. private-sector payrolls grew by just 37,000 jobs in May—well below expectations. April’s job gains were also revised downward to 60,000 from a previously reported 62,000. Economists surveyed by Reuters had projected a 110,000-job increase in May.

The ADP figures arrived just ahead of the official employment report from the Labor Department’s Bureau of Labor Statistics, due Friday, which will offer a broader view of the labor market.

Trump, a Republican, has repeatedly criticized Powell—often in blunt, personal terms—accusing the Fed chair of failing to act quickly enough on rates. His persistent calls for Powell’s resignation have stirred unease in financial markets and weighed on investor confidence.

The barrage of attacks has also fueled concerns about the Federal Reserve’s independence under Trump’s leadership. However, the president said last month that he would not seek to remove Powell before the end of his term in May 2026.