President Donald Trump took a combative tone at times as he spoke remotely Thursday to an international audience of business leaders, politicians and other elites at the World Economic Forum’s annual event in Davos,

The annual gathering in the Swiss ski resort had a complicated geopolitical backdrop this year.

DAVOS, SWITZERLAND — The Federal Reserve now needs to be on Trump watch if it wants to engineer the proper dose of monetary policy, according to Bank of America chief Brian Moynihan.

The president bashed Jerome Powell on inflation less than two hours after the Fed chair announced interest rates would stay put. As Bank of America CEO Brian Moynihan may attest, Trump’s timing is not coincidental.

Speaking before the World Economic Forum in Davos, Switzerland, Trump said he’ll call for interest rates to be lower than current levels. A possible sign he is setting up a possible battle with the Federal Reserve.

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Federal Reserve’s first meeting of 2025 is expected to keep interest rates steady, despite pressure from former President Donald Trump to lower them. Trump recently demanded a rate drop, citing falling oil prices,

It all began around 10 years ago during the Obama administration, with the former president, famous for bringing progressive hope and change. He began the crackdown on banks over whom they did business with, nominally looking to debank money launderers but also focusing on politically incorrect industries like gun manufacturers.

Fiscal policy and monetary policy are always vying for top spot on the market’s list of concerns. For now, there is little to see at the Fed. What the market needs is clarity on the fiscal front.

The US Fed held rates steady, reaffirming its independence despite President Donald Trump’s demands for cuts. Fed Chair Jerome Powell dismissed political pressure, while Trump accused the Fed of failing to control inflation.

Follow live coverage of the January FOMC meeting, interest-rate announcement, and Fed chairman Jerome Powell's press conference.