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In his recent statements, US President Donald Trump delivered noteworthy messages regarding both monetary and foreign policy. Trump continued his harsh rhetoric towards Tehran, stating that Iran’s religious leader “should be deeply concerned right now.”
On the economic front, Trump stated that interest rates would be lowered, calling it “almost inevitable.” Referring to the new Fed chairman nominee Kevin Warsh, Trump implied he expected Warsh to favor interest rate cuts. Trump also stated, “He wouldn’t get this job if he said he wanted to raise interest rates,” thus again openly supporting a more dovish monetary policy stance.
On the other hand, U.S. Treasury Secretary Scott Bessent, in his testimony before the House Financial Services Committee, stated that he did not offer an opinion on whether the president has the constitutional authority to remove a Federal Reserve chairman or board member due to disagreements over monetary policy. However, Bessent added that he views the Fed as an independent institution.
*This is not investment advice.