US President Donald Trump made his first speech virtually at the World Economic Forum in Davos.
In his speech, Trump said, ‘I’ll demand that interest rates drop immediately,’ though he did not mention the Fed by name.
‘And likewise, they should be dropping all over the world. Interest rates should follow us all over,’ he added.
Trump’s remarks come five days before the Fed’s first policy meeting on Jan 28 and 29, during his administration and the expectations are intact that the officials will not change the rates.
The Fed last cut its overnight interest rate target by a quarter percentage point in December to between 4.25% and 4.5%.
Many Fed officials have expressed concern about lowering rates further from here due to inflation.
This post was last modified on 24 January 2025 12:32 am
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