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U.S. President Donald Trump said on Jan. 30 (local time) that his nominee for the next chairman of the U.S. central bank, the Federal Reserve (Fed), former Fed Governor Kevin Warsh, would cut interest rates.
When asked by reporters at a White House ceremony signing an executive order if Warsh had promised to pursue rate cuts if confirmed by Congress, President Trump replied, "No."
He added, "But we have talked about it, and I've watched him. I don't want to ask him that question. I think it's probably inappropriate and not permissible. I want to keep it nice and clean."
This was interpreted as a remark implying that securing a promise for rate cuts during an interview with a Fed chairman nominee would go against maintaining the Fed's independence.
However, President Trump stated, "He would definitely like to see lower rates. I've watched him for a long time."
When asked if he had any concerns about Warsh's hawkish background, advocating for past interest rate hikes, he said, "I thought we needed to raise rates at times too," adding, "But he's very smart and very good and very tough, and pretty young. He'll do a good job."
When asked if he was concerned about Warsh's Senate confirmation, which will take place in the Senate Banking Committee, he also replied, "No," and continued, "He was the man that people wanted. He's a perfect candidate. Top student, top schools, everything is perfect. He has it all. And he'll do a fantastic job. He loves this country."
Regarding Republican Senator Tom Tillis (North Carolina) stating that he would oppose the confirmation of all Fed nominees until the Justice Department's investigation into current Fed Chair Jerome Powell is resolved, President Trump commented, "That’s why he’s not a senator anymore," referring to Tillis's announcement that he would not seek re-election and would retire from politics.
"If he doesn't confirm them, we'll have to wait until somebody comes along who will confirm them," he added.
Regarding the investigation into Chairman Powell, President Trump reiterated his criticism of the excessive cost of remodeling the Fed building, stating, "Either he's incompetent, or he or somebody is a thief. We'll find out," implying that the investigation would not be halted.
When asked if there was a deadline for his pressure on Iran to agree to a ban on nuclear weapons, which involves moving a large fleet, including U.S. aircraft carrier strike groups, to the Middle East, President Trump said, "Only they (Iran) know that for sure."
He specifically stated, "I can tell you this: they want a deal."
Regarding the upcoming peace talks between Russia and Ukraine on March 1, which the United States will not attend, President Trump said, "They might be able to grab a deal."
He acknowledged that the situation is very difficult because the leaders of both countries hate each other, but added, "I think we're getting very close to a deal."
Meanwhile, President Trump signed an executive order announcing that the "Indy 500" car race will be held in Washington D.C. from August 21 to 23 as part of the U.S. Bicentennial celebration.
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