Trump's attempt to control interest rates and oil prices unlikely to succeed

From Investing.com: 2025-01-24 08:42:00

President Trump announced that he would order the Federal Reserve to cut interest rates and asked Saudi Arabia to lower oil prices during a virtual address to the World Economic Forum. However, the likelihood of Trump being able to control these global factors is low, as interest rates and oil prices are influenced by various economic indicators and market forces. Even if Trump were to have the power to set interest rates, the effect would likely be limited to short-term yields, not long-term rates. Furthermore, influencing oil prices would require cooperation from OPEC, which has a history of manipulating prices for member profits. Ultimately, global markets will determine interest rates and oil prices in the long run.



Read more at Investing.com: Trump’s Push on Oil and Rates Faces a Losing Battle