President Donald Trump called for the Federal Reserve to lower interest rates days ahead of the Central Bank's next meeting.

"With oil prices going down, I'll demand that interest rates drop immediately, and likewise they should be dropping all over the world," Trump said at the World Economic Forum on Thursday in Davos, Switzerland on Thursday.

Trump later elaborated on his position during an event at the White House.

"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," referring to Federal Reserve Chairman Jerome Powell, who he appointed as leader of the Fed in his first term.

The Fed signaled in December that it was pausing rate cuts for the time being after reducing rates to between 4.25% and 4.5%.

The Fed meets again next week.