Pres. Trump is starting his day by saying:
If the Fed would lower rates we would be buying that for a lot lessPowell 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 negotiatedI said its very lateIran has reached outThey suggested they come to the White HouseThey 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 weekTo the Iran Supreme Leader, good luck. Patience has all ready run out.
ON trade:
We are going to make a deal with IndiaI 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.