Trump: The Federal Reserve should avoid cutting interest rates before the November election, considering JPMorgan CEO Dimon for Treasury Secretary
Former U.S. President Donald Trump has given an interview to Business Week, covering a wide range of topics including the U.S. economy and his agenda for a second term if re-elected. Trump stated that he would allow Jerome Powell, Chairman of the Federal Reserve, to complete his term (which expires in 2028), especially if he believes Powell is doing the right thing.
On policy interest rates, he warned that the Fed should avoid cutting rates before the November election to prevent giving Biden a boost.
Regarding tax cuts, Trump hopes to lower corporate tax rates from their current 21% down to as low as 15%, and no longer plans on banning TikTok. However, if this goal proves too difficult to achieve, he would be satisfied with reducing it down to 20%.
In addition, Trump also mentioned potential candidates for Treasury Secretary. He said that Jamie Dimon - CEO of JPMorgan Chase who is reportedly considering entering politics - could be considered for this role.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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