Trump: Will ask Saudi Arabia and OPEC to lower oil prices, Federal Reserve hurry to cut interest rates

On Thursday, US President Trump said at the World Economic Forum in Davos that he will ask Saudi Arabia and OPEC to lower oil prices, and then he will "ask" for lower interest rates. Before Trump made his remarks about Saudi Arabia, the Saudi state news agency said on Wednesday that Crown Prince Mohammed bin Salman had a phone call with Trump. The agency said, "His Royal Highness confirmed that Saudi Arabia intends to expand investment and trade with the United States in the next four years, with a scale of up to $600 billion, and even more." Trump said, "I will ask the Crown Prince to increase the investment scale to about $1 trillion. I think they will do it, because we have always been good to them. I will also ask Saudi Arabia and OPEC to lower oil prices." "If the price drops, the Russia-Ukraine war will end immediately. Now, the oil price is high enough to continue the war. You have to bring down the oil price to end the war. They should have done it long ago. In fact, they are greatly responsible for what is happening." It is worth mentioning that on Wednesday, Trump threatened to impose tariffs and sanctions on Russia if they do not reach an agreement to end the Ukraine war. During his election campaign, Trump said that if he came to power, he would resolve the Russia-Ukraine conflict within 24 hours. Trump pointed out, "I hope Russia and Ukraine are working towards a peaceful solution," while comparing the death toll in the conflict to World War II. Furthermore, Trump launched his first fierce criticism against the Federal Reserve on Thursday, saying he will exert pressure to demand lower interest rates. He did not specifically name the Federal Reserve, but made it clear that he will seek lower rates. Trump said, "With the drop in oil prices, I will ask for an immediate reduction in interest rates. Likewise, interest rates worldwide should be lowered, they should follow us."