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US President Donald Trump made remarkable statements about both foreign trade and monetary policy at a press conference he held at the White House. Reiterating his criticisms of FED Chairman Jerome Powell in his statements, Trump stated that interest rates should be lowered.
Trump claimed that the problem was Powell and said, “If Fed Chair Powell would lower interest rates, that would be great,” once again expressing that he found the current monetary policy inadequate.
The planned agreement with India was highlighted on the trade agenda. Trump said he hoped trade barriers with India would be completely eliminated and that the two countries were very close to a trade agreement. He also announced that official letters would be sent to some countries next week regarding customs duties. “Some countries will be disappointed in this because they will have to pay customs duties,” he said.
The issue of Iran also came up during the meeting. Trump said he believed Iran would not restart its nuclear program anytime soon and hoped that the country’s nuclear activities would be monitored by the International Atomic Energy Agency (IAEA) or other reputable institutions. Noting that Iran had invested more than $1 trillion in nuclear energy, Trump claimed that this system had not been properly integrated and that there were still dangerous materials on the ground. Trump said, “Iran wants a meeting,” and left the door open for diplomacy.
*This is not investment advice.