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Bond Traders Swing to Powell’s Side as Trump Calls for Rate Cuts

Fed to Hold Steady, Look to Summer Meetings, Bullard Says

Takeaways NEW

Fifteen minutes after the April employment report hit early Friday, President Donald Trump seized on the surprisingly strong job growth to ratchet up his pressure on Federal Reserve Chair Jerome Powell, saying there was no reason to hold off on cutting interest rates.

Bond traders came to the exact opposite conclusion.