Trump Reconciles with Musk Amid Recent Public Disputes

Huo Xing Finance reports that on June 6, President Trump made a series of intensive statements over the past 24 hours on issues including the economy, monetary policy, the Middle East situation, and artificial intelligence. On the economy, Trump stated that the U.S. May non-farm payroll data was “very strong,” asserting that economic growth does not equate to inflation and that the stock market should have risen rather than fallen. He reiterated his desire to see interest rates lowered but said he would leave the decision on whether to cut rates at the October FOMC meeting to the new Federal Reserve Chair, Walsh. Regarding the Middle East, Trump said he would swiftly end military actions against Iran to alleviate pressure from rising energy and fertilizer prices. He also stated that although no agreement has yet been reached with Iran, “Iran has no choice but to reach an agreement.” Additionally, Trump claimed the U.S. has significantly destroyed Iran’s missile and drone systems, estimating Iran’s remaining missile stockpile at only 21% to 22% of its pre-war level. In the technology sector, Trump revealed that the administration is considering allowing the American public to participate in leading artificial intelligence companies through equity ownership and confirmed that discussions on this concept have already taken place with companies, though no specific details were disclosed. Regarding his previous public disagreement with Musk, Trump said the two have “become friends again.” Furthermore, the White House confirmed that Trump has pardoned former Republican Congressman Stephen Bayly, who was sentenced to 22 months in prison for trading on insider information related to the $23 billion merger between Germany’s Telekom America and Sprint Communications.