US jobs growth stops- Will Fed finally lower rates and send Bitcoin to a new record?

Uncertainty over the continuation of Trump’s tariffs as well as a potential trade war is starting to seriously impact the number of available jobs in the United States. A potential rate cut by the Fed, which the White House is now calling for, would be very good news for Bitcoin.

Powell must lower the rate

With US companies unsure whether they will make a profit this year (as it’s unknown how much they’ll have to pay to import raw materials and other goods), business leaders have given clear orders to halt hiring. With just 37,000 new jobs in a month, job growth is at a two-year low.

“Hiring is losing momentum after a strong start to the year. However, wage growth was largely flat in May, remaining robust for both those keeping their jobs and those changing jobs,” explained Nela Richardson, Chief Economist at ADP.

Meanwhile, President Donald Trump, responding swiftly to the ADP numbers, renewed his call for the Federal Reserve to cut interest rates as soon as possible, posting on Truth Social, “ADP NUMBER OUT!!! ‘Too Late’ Powell must now LOWER THE RATE. He is unbelievable!!! Europe has lowered NINE TIMES!”

Bitcoin is not reacting to the news just yet and is holding on tightly to the level above $100k. Any positive sign about a rate cut from the Federal Reserve would give a huge boost to the largest digital currency.