US president addresses WEF Links high inflation to oil price Trump ‘surprised’ prices still high Oil prices were down on Friday after US President Donald Trump drew a direct link between persistently high inflation and global oil prices during video remarks before the World Economic Forum in Davos,

In an address to the World Economic Forum in Switzerland, delivered via video link Thursday, President Donald Trump revisited his displeasure with the policy direction of the U.S. Federal Reserve that surfaced during his first term in spite of having appointed the leader of the monetary body.

US President Donald Trump used a virtual speech at the World Economic Forum to criticize the Federal Reserve and OPEC, sparking a ripple effect through global markets. Trump demanded the Federal Reserve lower interest rates,

After Trump said he would “demand that interest rates drop immediately,” the 2-year Treasury yield edged lower and stocks ticked up.

Donald Trump has raised the pressure on Federal Reserve chair Jay Powell to cut borrowing costs, setting up a potential clash between the two men less than a week before the US central bank meets to set interest rates.

Read about the market's reaction to President Donald Trump's speech in Davos, Switzerland where he called for lower rates and cheaper oil, as well as how corporate earnings were received and other developments on Thursday.

President Donald Trump on Thursday said he will call for a lowering of U.S. interest rates, exerting pressure on the Federal Reserve despite a longstanding norm of political independence at the central bank.

Donald Trump hinted at a coming clash with Federal Reserve Chair Jerome Powell and other central bankers as he spoke virtually before the World Economic Forum, saying he would 'demand' lower interest rates.

Oil prices fell after Trump's comments, while the 10-year US Treasury yield rose, signaling that Trump may have less influence on interest rates.

Stocks ended mostly higher Thursday, with the S&P 500 notching its first record finish since Dec. 6 — and its first of President Donald Trump's second term. It didn't take much, after the large-cap benchmark ended just shy of a record in Wednesday's session.