FIRST ON: CNBC's Joe Kernen interviews President Trump in Davos — 1/21/2026

Watch on YouTube ↗  |  January 21, 2026 at 20:31  |  16:55  |  CNBC
Speakers
Donald Trump — President of the United States

Summary

CNBC's Joe Kernen interviewed President Donald Trump in Davos after Trump announced a framework for a Greenland/NATO deal. Trump discussed taking February 1 tariffs off, his desire for a growth-tolerant Fed, a proposed 10% credit card interest rate cap, restrictions on corporate single-family home buying, NATO defense spending, and Venezuela oil cooperation. The interview also touched on Iran, Fed leadership, and domestic affordability.

  • Trump announced a concept of a deal with NATO on Greenland and said February 1 tariffs are off.
  • He wants a Fed chair who will not raise rates solely on strong growth, arguing low inflation and strong GDP can coexist.
  • He proposed a one-year 10% cap on credit card interest rates.
  • He criticized large corporations buying single-family homes and said he wants to stop the practice.
  • He highlighted NATO defense spending at 5% of GDP, US missile sales, B-2 bomber orders, and Golden Dome.
  • He discussed Venezuela oil cooperation and US seizure/sale of 50 million barrels.
  • He commented on Iran, Fed leadership, the Fed building, and Ukraine rare earths.
Ideas
Donald Trump President of the United States 1:35
Greenland deal removes tariff risk.
Trump wants a Fed chair like Greenspan who will not raise rates just because GDP is hot. He argues growth is not inflationary, inflation has been low, and the current reaction function causes the stock market to sell off on good news. A growth-tolerant Fed would allow a great market run.
SPY MED
Donald Trump President of the United States 3:49
NATO spending supports US defense.
Trump says NATO allies have raised defense spending to 5% of GDP and buy US missiles and equipment, and he notes the US ordered 25 additional B-2 bombers and is involving allies in the Golden Dome missile-defense program. This supports demand for the US defense sector.
ITA MED
Donald Trump President of the United States 13:29
Credit card cap pressures issuers.
Trump wants a one-year 10% cap on credit card interest rates, saying consumers are being charged 28%-30% and cannot pay. This would reduce revenue and profits for credit card issuers.
Credit card companies HIGH
Donald Trump President of the United States 15:05
Venezuela oil revival on US cooperation.
Trump says the US picked up 50 million barrels of Venezuelan oil and will sell at market price, relations with Venezuela are good, and Venezuela has tremendous oil reserves and can be hot again and make more money with the US. This is positive for Venezuela's oil sector.
Venezuela oil sector MED
Donald Trump President of the United States 15:48
Corporate home buying faces policy risk.
Trump criticizes large corporations buying thousands of single-family homes to rent or flip, saying it has gone too far and he wants to stop it so ordinary people can buy homes. This is a policy risk for institutional single-family rental operators.
Single-family rental REITs HIGH
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This CNBC video, published January 21, 2026, features Donald Trump discussing SPY, ITA, Credit card companies, Venezuela oil sector, Single-family rental REITs. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Donald Trump  · Tickers: SPY, ITA, Credit card companies, Venezuela oil sector, Single-family rental REITs