SMM

Trump: No Intention to Fire Powell, Calls for US Fed to Cut Interest Rates, Spot Market Transactions Rebound [SMM Tin Morning News] Trump: No Intention to Fire Powell, Calls for US Fed to Cut Interest Rates. US President Trump, while attending the swearing-in ceremony of SEC Chairman Atkins on Tuesday local time, stated that he has no intention to fire Fed Chairman Powell, despite his disappointment with the US Fed for not cutting interest rates more quickly. "Never," Trump told reporters, "the media always makes a mess of things. I am not planning to fire him. I hope to see him more proactive in the idea of lowering interest rates." Trump said, "Grocery prices have fallen, everything is falling. The only thing that hasn't fallen but hasn't risen much is the interest rate." Trump stated, "We believe the US Fed should cut interest rates, now is a perfect time. We hope our chairman can act early or on time (to cut interest rates), not late." Trump also mentioned that the stock market is performing well. Spot Market: Yesterday, transactions in the spot market rebounded. Most traders reported transactions of 1-2 vehicles yesterday. As prices pulled back, some companies conducted essential restocking and a small amount of restocking.