President Trump said if oil prices come down he'll demand lower interest rates immediately, adds he knows rates 'much better' than Fed officials

President Donald Trump on Thursday said he will call for a lowering of U.S. interest rates, exerting pressure on the Federal Reserve despite a longstanding norm of political independence at the central bank.

"I think I know interest rates much better than they do, and I think I know it certainly much better than the one who's primarily in charge of making that decision," Trump says