Pres. Trump is starting his day by saying:
- If the Fed would lower rates we would be buying that for a lot less
- Powell probably will not cut rates today.
- Powell has done a poor job.
- We should be two points lower (assume means 2% lower).
- Am going to go very short term, get rates way down and then go long term (he is implying debt issuance)
- Would save $600 to $800 million dollars
Although Trump has threatened to fire Feds Powell, he is likely to have him finish his term as the Fed Chair (ends May 2026) and pre-announce his successor.
On Iran:
- Can’t say whether US will strike Iran.
- Iran has a lot of trouble.
- Should have negotiated
- I said its very late
- Iran has reached out
- They suggested they come to the White House
- They are totally defenseless they have no air defense whatsoever.
- Unconditional surrender means “I’ve had it. I have had enough”.
- Iran was school yard bullies. They are not bullies anymore.
- Next week will be big, maybe less than a week
- To the Iran Supreme Leader, good luck. Patience has all ready run out.
ON trade:
- We are going to make a deal with India
- I stopped the war between Pakistan and India.
Says we are going to sell a lot of Trump Gold Cards to the likes of Apple to get workers in the US from other countries.
Oil prices turn negative. The price is currently trading at $72.64. Stocks are higher with the S&P up 0.38% and the Nasdaq up 0.44%
This article was written by Greg Michalowski at www.forexlive.com.