Labor Secretary Lori Chavez-DeRemer echoed President Donald Trump’s complaint about the Federal Reserve’s failure to lower interest rates.
Following Friday’s monthly employment report from the Bureau of Labor Statistics, Chavez-DeRemer said in a news release that despite smaller-than-expected job gains in the past month, the overall picture is solid. But she said the Fed’s lowering of interest rates would change the picture dramatically.
“After a successful Labor Day weekend where we saw gas prices hit their lowest point in five years, this report shows working-class Americans are also benefiting from strong and consistent hourly wage growth, which is up nearly four percent,” she said in a statement in the release.
“The price of goods has increased globally over the past year, but the U.S. is bucking that trend with lower inflation thanks to the return of America First leadership. President Trump’s historic Working Families Tax Cut will ensure the American worker can keep even more of their hard-earned money moving forward.
“Additionally, second-quarter GDP [gross domestic product] smashed many economists’ expectations, demonstrating strong growth and resilience. All job growth this year has been in the private sector among native-born Americans,” her statement continued.
“Despite all these positive signs for our economy, the Fed is failing American workers by dragging its feet and refusing to lower rates. As I travel the nation on my America at Work listening tour, I often hear frustration in the voices of entrepreneurs and business owners. President Trump was right before, and he is right again — it is past time for the Fed to act.”
Trump has complained about Fed Chairman Jerome Powell holding the interest rate higher than what Trump believes is appropriate, saying it has cost the country and Americans billions of dollars.
In a Friday post on Truth Social, the president wrote: “Jerome ‘Too Late’ Powell should have lowered rates long ago. As usual, he’s ‘Too Late!’
Trump has said he is reviewing information about potential nominees to replace Powell, but it does not appear that Powell intends to leave his position before the end of his term in May of 2026.
© 2025 Newsmax. All rights reserved.
