Trump vs. Fed: USD down, S&P up

During his presidential campaign, Donald Trump suggested he should have influence over interest rate decisions. 

Now, the US dollar has weakened, and the S&P 500 has reached record highs as Trump publicly demanded that the Federal Reserve lower interest rates.  

Although Trump doesn't have the power to overrule the Federal Reserve, his unconventional politicking means he might be able to find a way to push through his agenda.

These remarks come just days before the Fed’s upcoming two-day policy meeting, which will conclude on Wednesday with an interest rate decision. However, markets are pricing in almost no chance of a further cut to the benchmark borrowing rate. 

Additionally, Trump stated he would ask Saudi Arabia to lower oil prices, which caused crude oil prices to decline.

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