- President Donald Trump characterized the Federal Reserve board as “a little bit hostile” and a potential obstacle to new Chairman Kevin Warsh’s policy execution.
- Trump outlined his tech sector strategy, revealing a $8.9 billion investment in Intel for a 10% stake and refusing to comment on government involvement with OpenAI.
- Despite a past disagreement, Trump stated he has a “very good relationship” with Elon Musk and believes Musk will donate SpaceX stock to the new Trump Accounts platform.
- Retail sentiment on major ETFs was reported as ‘bullish’ with ‘normal’ to ‘high’ message volumes on Stocktwits.
In an exclusive Thursday interview with CNBC, President Donald Trump directly addressed friction within the central bank and laid out his administration’s latest corporate and tech policy stances. He expressed concern that newly appointed Federal Reserve Chairman Kevin Warsh faces significant internal resistance from the board.
Consequently, Trump suggested this hostility could prevent Warsh from steering monetary policy in the administration’s preferred direction. Meanwhile, he detailed a strategic vision for the domestic technology sector, focusing on regulatory frameworks and semiconductor infrastructure.
The president confirmed his administration made an $8.9 billion investment in Intel common stock last August, securing a 10% stake. However, he did not answer a question about the potential for a government stake in OpenAI, a report first reported by the Financial Times.
Shifting to aerospace, Trump praised his “very good relationship” with Elon Musk. He stated his belief that Musk will donate SpaceX stock to the upcoming Trump Accounts investment platform for American minors.
Regarding market sentiment, retail views on major ETFs like SPY, QQQ, and DIA were characterized as ‘bullish’ on Stocktwits. This comes amid a market backdrop where the Dow closed at a record high as weak jobs data calmed rate hike fears.
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