Donald Trump put pressure on the Fed Chairman Jei Powell, asking him to cut interest rates
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Donald Trump exerted pressure to cut borrowing costs at the Fed Chairman Jey Powell. Less than a week before the Fed’s interest rate meeting was held, a conflict may occur between the two.
When Trump signed several new administrative orders at the oval office on Thursday, he said that he would “better understand” interest rates than the Federal Assembly, and he hoped that the interest rate would “significantly” decline.
It is generally expected that the Fed will maintain the benchmark interest rate between 4.25%and 4.5%next week, which is a suspension after three consecutive interest rate cuts since September.
The Feds’ Association has hinted that the pace of interest rate cuts will slow down this year. Some officials are worried that Trump’s plans to increase tariffs, tax cuts and migration will prevent the inflation rate from controlling the efforts of 2%.
“People’s concerns [at the Fed] Not only the problem of tariffs, but also that people recognize that fiscal policy does not help reduce inflation.
However, the Federal Statue will conflict with the new president of the United States.
Trump said on Thursday that he hoped that the Fed would be able to hear his request and talk to Powell “at appropriate time.”
Trump said: “I think I know the interest rate better than them, and I think I must know the interest rate better than those who are mainly responsible for making this decision.” “If I disagree, I will make it public.”
During the first term, Trump promoted Powell to the chairman of the Fed, but often criticized him, especially in 2019, which was not fast enough. Essence
“If the Fed will continue to maintain interest rates and he believes that it will be good There may be conflicts.
Some economists say that if Trump’s policy is pushing up prices, it may force the Fed to stop further rate cuts and even increase the cost of lending.
“If the measures taken by the government really start to push the high inflation rate, the task of the Federal Assembly will be very clear -they will push high interest rates. They will get it on the neck [from Trump] If they do this, “Mark Brss, a professor of economics at Brown University.
Trump said earlier on Thursday at Davos to a high -level speech that he hoped that the interest rate of the “world” would decline and told Opeccat to reduce oil prices to achieve this goal.
A few hours later, he talked about this theme again when he spoke to reporters in an oval office.
“I want to see the decline in oil prices. When energy prices decline, this will eliminate a large amount of inflation. This will automatically reduce interest rates,” Trump said.
He also made new doubts about Washington’s commitment to NATO on Thursday and called on the United States allies to increase defense expenses in the treaty.
“They did not protect us,” he said when he talked about NATO country. “We are protecting them. So I don’t think we should spend money. I’m not sure what we should spend, but of course we should help them. But they should rise by 2% [of GDP on defence spending] To 5%.
According to Trump’s talks with NATO Secretary -General Mark Luther, the day before Trump’s remarks, the new Secretary of State Marco Rubio “reiterated the United States’ commitment to the organization.”
Other administrative orders signed by Trump on Thursday include one to create a national cryptocurrency inventory, and the other authorizes the announcement of the President John F. Genndi, the former judicial minister Robert F. Federal files.
Trump said, “American people should get the transparency and truth about killing.” “Many people have waited for several years and decades, everything will be revealed.”
