US president tells World Economic Forum he will insist central banks lower interest rates ‘immediately’ afterwards. By Ben Hall, Sam Fleming in Davos, James Politi in Washington January 23, 2025.
https://www.ft.com/content/af9a3a17-cf32-4d4c-b2e1-97ea7c5e2bb1
Donald Trump has called on Opec to push down global oil prices and insisted that central banks around the world lower interest rates “immediately” afterwards.
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His comments on the oil price came after he spoke to Saudi Crown Prince Mohammed bin Salman on Wednesday. During the conversation, Bin Salman pledged to invest as much as $600bn in the US over the next four years.
But on Thursday, Trump said he would be asking “the Crown Prince, who’s a fantastic guy, to round it out to around $1tn”.
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The US president also touted the merits of “good, clean, coal” to power data centres needed for artificial intelligence. “We need double the energy we currently have in the US, for AI to be as big as we want to have it,” Trump said, adding that he would use emergency decrees to speed the construction of new power plants.
“Nothing can destroy coal — not the weather, not a bomb, nothing,” he said. The share price of Peabody, the largest US coal company, jumped 4 per cent on the remarks.
