Name: Trump speaks about economy, Federal Reserve in Detroit
Uploaded: 2026-01-14T00:38:03.221Z
Duration: 3 min 59 s
Description: President Trump spoke about the state of the U.S. economy Tuesday in Detroit, where he arrived to tour local Ford factories.

President Trump spoke about the state of the U.S. economy Tuesday in Detroit, where he arrived to tour local Ford factories.

Detroit

President Trump visited Detroit, touring a Ford factory and addressing the Detroit Economic Council to promote his administration's efforts to boost U.S. manufacturing. He highlighted the steady inflation rate of 2.7 percent and called for the Federal Reserve to lower interest rates, citing the need to make living costs more affordable for Americans.

The president also addressed the ongoing situation in Iran, stating that the U.S. may intervene if violence against protesters continues. While meetings with national security officials were held to discuss possible actions, no specific decisions or thresholds for intervention were announced.

Trump speaks about economy, Federal Reserve in Detroit

President Trump is in Detroit today touring a Ford factory to help promote his efforts to boost U.S. manufacturing. His visit comes hours after December's Consumer Price Index report was released. That tracks the changes in a basket of goods and services typically bought by consumers like food and apparel, and it shows inflation is holding steady, rising at an annual rate of 2.7 percent with no change from the month before. The president spoke about the state of the U.S. economy at the Detroit Economic Council. Our growth potential is unlimited and could be much higher if we went back to sanity. We're not doing it anymore. We're talking about the head of a Fed, of the Fed. And I want somebody that when the market is doing great, interest rates can go down because our country becomes stronger. So you view it differently. Our country becomes stronger and therefore interest rates should go down, not up. They kill every rally. CBS News senior White House correspondent Weijia Jiang is traveling with the president. What is the administration trying to do practically to help make things more affordable? What more can you tell us about the president's message? So they stick together, which I admire, because I'm a very. Hey, Lindsey. Well, the administration would say that since President Trump came into office, he has been taking steps to try to bring the prices down. And the president was already touting that figure that you just went over from the report that was released this morning as an example of inflation holding steady. And another reason why he said the Federal Reserve chairman, Jerome Powell, should cut interest rates. Obviously, that is a source of contention right now because we learned yesterday that the Department of Justice is investigating Powell. But on affordability, the president has talked about energy prices as an example, on capping interest rates for credit cards, on bringing down the prices of certain foods, including eggs, and most importantly so far on gas. But he has other proposals in the works. The problem is, Lindsey, that just like we saw with the previous administration, that when you have these policies, sometimes it takes some time for them to make their way through and to actually get to the consumer to be able to feel some relief. But the president here, right here in Detroit, is saying once again that his policies are working and that the broader idea to bring manufacturing back to places like Michigan will ultimately make living, make costs much more bearable for Americans. The Trump administration also has its eye on the developing situation with Iran. What can you tell us? Now you're waiting five hours. What do you think? Well, we know that this morning, the president's national security team met to talk about Iran and the potential actions to present to the president, who has himself said that he will do something to intervene if Iran continues to kill its protesters and continues the violence that we've seen unfolding in recent days. That includes Secretary of State Marco Rubio, along with Defense Secretary Pete Hegseth. We also know that later today, Vice President Vance will be chairing another meeting on Iran because this is top of mind for the president. In fact, he even posted himself on social media telling protesters to hang in there and that, quote, help is on the way. Now, we don't know exactly what help he's talking about. We don't know the threshold for what it would take for the U.S. to intervene with military options. But the president did say that they would ultimately be, quote, hit hard if these actions against protesters do not stop. But it is something that we are monitoring closely, Lindsey, because any time you talk about potential U.S. involvement, especially with the military, it is incredibly important that we track every detail. But so far, we don't know exactly what the president has decided with regard to how to take action. Richard Chang, thank you so much.

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Breakdown