Trump: The Federal Reserve should avoid cutting interest rates before the November election and consider JPMorgan CEO Dimon for Treasury Secretary

2024-07-17 08:17:30

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ChainCatcher News: Former U.S. President Donald Trump gave an interview to Business Weekly, covering a wide range of topics including the U.S. economy and his agenda for a potential second presidential term. Trump stated that, if re-elected, he would allow Federal Reserve Chairman Powell to complete his term, including his role as a governor (which ends in 2028), especially if he believes the latter is doing the right thing.

Regarding policy interest rates, he warned that the Federal Reserve should avoid lowering rates before the November elections to prevent giving Biden a boost.

On tax cuts, Trump hopes to reduce the corporate tax rate from the current 21% to as low as 15%, and he no longer plans to ban TikTok. However, if this goal proves too difficult to achieve, he would be satisfied with a reduction to 20%.

Additionally, Trump mentioned the issue of potential candidates for Secretary of the Treasury, stating that he could envision Jamie Dimon, the CEO of JPMorgan Chase, as a candidate he is considering for the position.

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