An increase in the number of U.S. jobs that was higher than expected makes it unlikely that the Federal Reserve will cut interest rates soon.

President Trump ramped up his call for Fed Chair Jerome Powell to lower interest rates after a new report showed sluggish hiring in May.

U.S. President Donald Trump on Wednesday redoubled his calls for Federal Reserve Chair Jerome Powell to lower interest rates, noting that payroll processing firm ADP reported that job creation slowed in May.