The president has repeatedly berated Powell for not cutting rates as he desires. The two men met face-to-face for the first time last week.

President Donald Trump urged the Federal Reserve to cut rates by a full percentage point, intensifying his pressure campaign against Chair Jerome Powell.

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.