President Donald Trump told reporters Friday at the White House that he hopes the Federal Reserve “gets involved” by cutting interest rates.”Well I hope the Fed gets involved. You know I’m not a big fan of the Fed. You know that. I think they make a lot of mistakes. They’ve made a lot of mistakes, but I hope the Fed gets involved and I hope they get involved soon,” Trump said.
The President then began comparing the US to other countries, like Germany, who were “putting in a lot of money and they’re probably lowering rates,” he said.
Central banks around the world are closely monitoring the novel coronavirus outbreak, and investors believe they will step in to keep the world’s economies humming.
Stocks have been selling off all week, even briefly falling into a correction Thursday, as investors and economists grew increasingly concerned about the virus’ impact on global supply chains and trade.