Trump Asked About Recent Fed Visit: 'Do You Expect The Fed To Cut Rates This Week?'

Forbes Breaking News

During a meeting with UK Prime Minister Keir Starmer on Monday, President Trump was asked if he believes the Federal Reserve will cut interest rates.

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00:00Very many other examples.

00:01Mr. President, you toured the Federal Reserve last week.

00:06I did.

00:07This week.

00:08Do you think your visit has inspired a potential break cut or how easy things should be done?

00:14Oh, it's interesting.

00:15I did tour it.

00:16I toured the building.

00:17And if you looked at this building, if you came here like 14, 15 years ago, we've had it a long time.

00:25It's been an honor to have Turnberry.

00:27But I was on much more opulent walls, ceilings, floors.

00:34We had to do this.

00:35And we did a very great job.

00:39I mean, you see how beautiful it is inside.

00:41Everything was saved.

00:42Everything was preserved.

00:43We had ceilings that were in bad shape.

00:45They were falling down.

00:46You know, it's very old.

00:49Wasn't properly maintained.

00:50Now it's brand new and beautiful.

00:52And we saved everything.

00:54If you really think here, you took a look and you were sort of commenting to coloring.

01:01Now, this is a brand new building.

01:03But if you look outside, it's equally opulent and beautiful.

01:07And we didn't do that by spending, you know, hundreds of millions of dollars in surrounding a railing underneath the area that you're painting.

01:18I mean, I've never seen anything like it.

01:20Brand new, beautiful plywood, very expensive, wrapped around a figurine or a railing to preserve it.

01:28But you don't have to do that.

01:29You can just wrap a cloth.

01:32They call it a blanket.

01:34And you don't even have to do that if you're careful when you're doing the ceiling.

01:38But I don't know what they did.

01:39They'd take down a ceiling and put up a new ceiling.

01:41And the new ceiling had no opulence to it.

01:43Or they'd fix the ceiling.

01:46But I would say that all I need is a good plaster and a can of paint.

01:51And, you know, they spent $3.9 billion.

01:54And I spent a lot of money, too.

01:55But it's, I'd say, $3.8 billion less, you know, meaning I spent probably $100 million making this place incredible.

02:10And you're saying a lot of that was local trades.

02:12I used local trades.

02:13We were looking at the windows, I think, in the next room.

02:16I had local trades do a lot of this.

02:18We have the most opulent windows next door.

02:22And I had a choice.

02:23Do I take them out?

02:25You know, they've suffered through 125 years of storms.

02:29You have very big storms in the story.

02:32When you have a storm, you have a storm.

02:33We do it properly.

02:34And they made it, barely.

02:36But they were in bad shape.

02:37So I had some local people come up, and we looked at them.

02:41You have some great craftsmen here, I think, is what you're getting at.

02:45And they said, sir, honestly, they've had it.

02:48We can copy it and do it much better.

02:51And they did.

02:52If you take a look at the windows in the various dining rooms, they're magnificent.

02:57And they're new.

02:58And they're much better looking than what was there.

03:00Same exact look other than a much higher quality.

03:05And they're local people.

03:06I used a lot of your local people.

03:08You have really great local tradesmen here.

03:13Yes?

03:13But do you foresee a rate cut this week?

03:15Do you expect...

03:16A rate cut?

03:16Yeah, do you expect...

03:17Meaning a tax cut?

03:19No, no, no.

03:19Do you expect the Fed to cut rates this week?

03:21Oh.

03:23I think he has to.

03:25You had 11 cuts, you know?

03:27In Europe, they had 11 cuts.

03:30In other places, they had 10 or 11 cuts.

03:32And we had none.

03:35But I'm not going to say anything bad.

03:37You know, we're doing so well, even without the rate cut.

03:40With the rate cut, it would be better.

03:42It affects our housing a little bit.

03:44Look, we should be three points lower.

03:49Each point is $360 billion.

03:51Can you imagine that?

03:53That's big numbers.

03:54Each point, one point of cut, is the equivalent of $360 billion in savings.

04:01That's big stuff, you know?

04:03Those are big numbers in the U.S.

04:05Everything's big.

04:05He should cut.

04:09A smart person would cut.

04:11You know, he leaves very soon, so it's like one of those things.

04:14But I'll miss him greatly.

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