US President Donald Trump said on Friday that he expects a significant drop in interest rates, in remarks in which he was referring to a new chairman of the Federal Reserve (the US central bank).
He added at a press conference: “We have a totally incompetent chairman of the Federal Reserve who likes high interest rates for political reasons, but we will have a very good one, and interest rates should come down significantly.”
Trump announced last month his intention to nominate Kevin Warsh to succeed Jerome Powell when his term as chairman of the Federal Reserve ends in May.
