Trump's Venezuelan Oil Deal Faces Skepticism as Fed Rate Hike Looms

U.S. President Donald Trump has unveiled a plan to lower pump prices for Americans by negotiating a deal with Venezuela over its oil reserves.

The deal, which Trump claims will yield 65 billion barrels of oil, aims to increase domestic refining capacity and bring down gasoline prices.

However, experts say the deal won't have an immediate impact on gas prices. Venezuela's oil infrastructure is in disrepair, requiring $180 billion in investment by 2040 to return to peak production.

Trump also vowed to 'hit Iran hard' after the country launched attacks on U.S. bases in Jordan.

The president's push for rapid economic growth has put him at odds with Federal Reserve Chairman Kevin Warsh, who is expected to hike interest rates in September.