US President Donald Trump and official Thomas Birkin issued critical statements simultaneously on both domestic and diplomacy.
While calling on the federal government to cut interest rates, Trump issued a prominent warning about the Ukraine-Russian war and shared developments on a series of trade deals.
Trump argued that the Fed should cut interest rates, and said Fed Chairman Jerome Powell was behind the issue.
Richmond FRID President Thomas Birkin proposed an indirect response to interest rate policies. Birkin said he does not expect a return to the high inflationary pressure seen in 2022, but noted that tariffs could create new price pressures. He added that the final tariff levels have not been finalized yet.
Regarding foreign policy, Trump tackled the war between Russia and Ukraine and warned that if both parties do not reach an agreement within 50 days, there could be “disastrous consequences.” He also warned Ukrainian President Zelenki that “we should not target Moscow.” Trump emphasized that he wasn’t on his side, saying, “My goal is to stop the murders.”
Trump has announced that the US will impose a 19% tariff on Indonesia under the trade agreement being resolved, but that US exporters will not pay taxes. He also said the US will provide full access to the Indonesian market. He pointed out that Indonesia has valuable resources such as rare earth elements.
Trump announced that new customs measures are ongoing for Brazil, adding that negotiations with the European Union are ongoing and that he believes the outcome will be satisfying for everyone. He also said a new agreement with India will soon be announced to provide market access.
*This is not investment advice.
