U.S. President Donald Trump pressured Federal Reserve Chair Kevin Warsh to effectively cut interest rates, saying that U.S. interest rates are excessively high.
On the 31st (local time), President Trump told reporters at the White House that, when asked whether he opposed Chairman Wash’s hint at a possible interest rate hike, “I have a lot of respect for him, and he will do what needs to be done.” At the same time, he repeatedly emphasized, “U.S. interest rates are too high,” and “We must become the country with the lowest interest rates in the world.” President Trump argued, “Success and growth do not cause inflation,” adding, “When we are doing well, there is no need to raise interest rates, and in many cases we should keep them low.”
Earlier, Chairman Wash suggested at the Jackson Hole Economic Symposium in Wyoming on the 28th that he could raise interest rates if inflation does not slow down. Accordingly, if the Federal Reserve actually begins raising interest rates at the Federal Open Market Committee (FOMC) meeting this September, it could clash with President Trump, who has been persistently calling for rate cuts.
President Trump also expressed his position on the Iran issue. While leaving open the possibility of further action in response to the airstrike on Iran’s Larak Island carried out the previous day, it said it would not consider using nuclear weapons against Iran.
Regarding the possibility of Venezuela withdrawing from the Organization of the Petroleum Exporting Countries (OPEC), he distanced himself by saying, “It’s up to them.” The United States recently announced an oil deal with Venezuela to develop 17 local oil fields and to take 55% of the production. President Trump said of this, "Russia and China were there too, but there is no more of them." He emphasized that what is there now is the United States, and that it has blocked the influence of China and Russia in Latin America.
President Trump also said that he had agreed with nine pharmaceutical companies to lower the prices of major medicines to the lowest preferential rates. He claimed, “Americans paid the highest drug prices in the world,” adding, “Now they have to bear the lowest price at the highest price.” Park Sung-yeol (ten@ikbc.co.kr )
Trump’s remarks, who always likes to make a fuss over various issues, are You need to clearly distinguish between what you can just accept as “that’s just how it is” and what is truly important.
If you respond hastily, you’ll lose the opportunity, If you ignore it too much, you will lose the opportunity.
In short, it's just a bunch of variables.
