Trump intervenes in the US Federal Reserve: Demand to lower interest rates

US President Donald Trump is preparing to intervene in the FED. Claiming that he knows more about 'interest rates' than FED officials, Trump called on the officials to lower interest rates.

Following the signing of presidential executive orders in the Oval Office, Trump answered questions from members of the press.

When asked how much of an interest rate cut he expects, recalling his statements at the 55th Annual Meeting of the World Economic Forum (WEF), which he attended via video conference, regarding his demand for interest rates to be lowered, Trump responded.

Trump made the following statement on the matter:

'I would like to see it go much lower... Oil prices will drop. When oil prices drop, everything will be cheaper for Americans, and actually for the world. That is why I want to see oil prices drop, and when energy prices drop, this will eliminate a large part of inflation and will automatically lower interest rates.'

Responding 'Yes' to the question 'Do you expect the Fed to listen to you?', Trump stated that they would meet with Fed Chair Jerome Powell at the 'right time'.

When asked why the Fed should listen to him, Trump said, 'Because I think I know interest rates much better than they do, and I certainly know them much better than the person who is primarily responsible for making this decision.'

FED Chair Jerome Powell had reminded that the Central Bank is an independent institution before Trump took office

ADDITIONAL TAXES ON CHINA

Trump stated that the plan to implement tariffs on February 1 was aimed at Canada and Mexico, but that they are also discussing China. On the other hand, Trump added that most of the taxes China currently pays are 'thanks to him'.

When asked why the tariff plans for China were 'softer' than those for Canada and Mexico, Trump replied, 'China is already paying a lot of tariffs because of me. They didn't pay 10 cents until I came along. When I came, they paid hundreds of billions of dollars.'

US President Donald Trump and President of the People's Republic of China Xi Jinping. Trump is expected to prioritize economic competition with China in his new term

CRITICISMS OF MUSK'S STARGATE PROJECT

Following the announcement of the Stargate project for artificial intelligence infrastructure, Trump also responded to claims by US billionaire Elon Musk that OpenAI, Oracle, and Softbank, which are involved in the project, actually have no money.

Trump made the following assessment regarding Musk's claims:

'I don't know if they have it, but they are putting up the money. The government is not putting up anything. They are putting up the money. They are very wealthy people, so I hope they have it. Elon doesn't like one of them.'

When asked if he was bothered by a deal he made being criticized publicly by Musk, US President Trump replied, 'No, he hates one of the people involved in the deal.'

US billionaire Elon Musk is in the new Trump cabinet. Musk will head the newly established Department of Government Efficiency (DOGE)

News Source: AA