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. 

“If you look at other countries, they’re all stuffing the till, they’re all going in there, they’re putting in a lot of money,” Trump said. “And our Fed sits there, doesn’t do what they’re supposed to be doing.”

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.

“The coronavirus poses evolving risks to economic activity,” Federal Reserve Chairman Jerome Powell said in a statement. He added that the Fed is “closely monitoring developments and their implications for the economic outlook.”

Source: Cnn.News

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.