United States President Donald Trump Wednesday called for Federal Reserve Chair Jerome Powell to lower interest rates, noting that payroll processing firm ADP reported that job creation slowed in May.

"ADP number out. 'Too Late' Powell must now lower the rate. He is unbelievable. Europe has lowered nine times," Trump said in a Truth Social post.

U.S. private payrolls increased far less than expected in May, the ADP National Employment Report showed Wednesday. Private payrolls increased by only 37,000 jobs last month after a downwardly revised 60,000 rise in April.

Economists polled by Reuters had forecast private employment increasing 110,000 following a previously reported gain of 62,000 in April.

• US Private Payrolls Growth Slows Sharply to 37K