The former U.S. president highlighted the efforts by his administration to strengthen the North Atlantic Treaty Organization, a military alliance comprising primarily countries from North America and Europe.
U.S. stocks climbed on Wednesday, with the S&P 500 setting fresh record highs after a surprise decline in private payrolls boosted expectations of Federal Reserve rate cuts.
The Treasury Secretary also called out the Federal Reserve for having “tariff derangement syndrome”, echoing President Trump’s attacks on Fed Chair Jerome Powell.
President Donald Trump said “trillions of dollars” are now being invested in the U.S., adding that the “Big Beautiful Bill” will be one of the “most successful” pieces of legislation to ever be passed.
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The sharpest job cuts were concentrated in the service sector. Professional and business services saw a decline of 56,000 roles, while education and health services lost 52,000 roles.
The trigger for the recent escalation has been Tesla CEO’s antagonistic stance against Trump’s “one big beautiful” tax bill, which has since then passed the Senate.
The focus will likely be on ADP’s private payrolls data for June, which is widely expected to rebound to 100,000 compared to the 37,000 jobs added in May.
Powell said President Trump’s tariff policies threw a wrench in the central bank’s inflation estimates, reiterating his previous stance that the levies were larger than expected.
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