Home Money Trump asks for cheap interest and oil rates cuts: the president prepares the stage for a crash with Fed

Trump asks for cheap interest and oil rates cuts: the president prepares the stage for a crash with Fed

0 comments
Rate redoubts: President Trump (in the photo) said that the costs of loans in the United States and worldwide

Donald Trump last night prepared the stage for a clash with the United States Federal Reserve after demanding an immediate cut in interest rates.

When heading to the World Economic Forum in Davos by Video Link, the president of the United States said that the costs of loans in the United States and worldwide should be fallen. “

He also said he wants to reduce global oil prices by establishing their broad agenda to business leaders and politicians gathered at the Swiss ski resort.

‘I will demand that interest rates will fall immediately. And in the same way, they should fall throughout the world, “Trump said.

“I am also going to ask Saudi Arabia and the OPEC to reduce the cost of oil.”

It is likely that the demand for an immediate fall in interest rates increases the eyebrows in the FED, the Central Bank of the United States, before the meeting next week, when officials make their next movement in the costs of the Loans.

Rate redoubts: President Trump (in the photo) said that the costs of loans in the United States and worldwide “should be going down”

The Fed, directed by President Jerome Powell, is independent of the government, as is the Bank of England is in the United Kingdom.

He cut the interest rates three times last year, with the final cut to between 4.25 percent and 4.5 percent in December, but it is widely expected to make any change next week.

Such movement would put Powell in a collision course with Trump again after the couple faced during the president’s first mandate.

Oil prices fell when Trump spoke, however, falling from about $ 79.50 per barrel just above $ 78.

“Trump’s call for lower oil prices will be naturally welcome by consumers and companies, but cautiously received by the United States oil industry and other global suppliers,” said Clay Seigle, a senior member of energy security in the Center for Strategic and International Studies in the United States.

In addition to urging Saudi Arabia to reduce the price of oil, Trump promised to increase drilling in the United States.

The president, who promised to withdraw the United States from the Paris Climate Agreement and used its inauguration to declare that the country will pierce, simulation ‘, told the meeting:’ The United States has the largest amount of oil and gas in any country. on earth, and we will use it.

This will not only reduce the cost of practically all goods and services, but will make the United States a manufacturing superpower. ‘

The comments, Trump’s first to global leaders, since he was sworn on Monday, strengthening the message that his second mandate will avoid free market rules within the United States and outside.

“It is not particularly strange that he wishes to encourage growth in his own country,” Espen Barth Eide, Minister of Foreign Affairs of Norway, said.

“But, of course, we believe that we are better in the world of free trade, where we exchange goods and services openly.”

DIY INVESTMENT PLATFORMS

Easy investment and portfolios lists

AJ Bell

Easy investment and portfolios lists

AJ Bell

Easy investment and portfolios lists

Free Ideas for Treatment and Investment of Funds

Hargreaves Lansdown

Free Ideas for Treatment and Investment of Funds

Hargreaves Lansdown

Free Ideas for Treatment and Investment of Funds

Invest with flat rates from £ 4.99 per month

Interactive inverter

Invest with flat rates from £ 4.99 per month

Interactive inverter

Invest with flat rates from £ 4.99 per month

Get £ 200 in commercial rates

Saxo

Get £ 200 in commercial rates

Saxo

Get £ 200 in commercial rates

Free and account rate without account

Commerce 212

Free and account rate without account

Commerce 212

Free and account rate without account

Affiliated links: If you get a product, this is money you can earn a commission. These agreements are chosen by our editorial team, since we believe it is worth highlighting. This does not affect our editorial independence.

Compare the best investment account for you

(Tagstotranslate) Dailymail

You may also like