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.

The U.S. Federal Reserve should cut interest rates by a full percentage point, President Donald Trump said on Friday as he reiterated his view that Fed Chair Jerome Powell has been too slow to lower borrowing costs.

Wall Street will be watching for the latest labor data in Friday's jobs report for the month of May as investors speculate on what could be the next economic catalyst to encourage the Federal Reserve to begin cutting interest rates in 2025.