How the coronavirus is affecting the U.S. economy, from cancelled conferences to historic stock market lows

President Donald Trump and administration officials have reportedly discussed financial countermeasures including tax cuts, according to aThe possibility of applying pressure for the Federal Reserve to drop interest rates was also said to be a topic of discussion, although the Fed has already indicated that such a move could be made if the situation warrants.

"The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity," Federal Reserve Chairman Jerome H. Powell said in a Friday."The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy."

The administration has been heavily criticized over their handling of the emerging health threat earlier in the week. Trump and his allies suggested that the criticism was part of a plot by Democrats to harm Republicans in the November election. The president also suggested at a Wednesday news conference that the market's plunge earlier in the week may have been due to a poor reaction to the Democratic debate on Tuesday, despite the fact that the debate occurred after two days of heavy losses had already happened.

Thank you Donald Trump your doing a great job

Shut up fear monger

Just STFU

The dems and the media are spreading fear while Israel announced a cure will be ready in 3 weeks ! Dems shipped our drug mfg capabilities to China while Israel did not.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. Stock Market Suffers Brutally as Dow Drops to Historic Low Amid Coronavirus FearsThe Dow marked its biggest one-day point drop to ever be recorded on Thursday
Source: people - 🏆 712. / 51 Read more »

European stocks set to fall further into correction territory as coronavirus grips marketsEuropean stocks are set to extend a historic week of losses on Friday as the coronavirus outbreak continues to pummel global markets into correction territory. territory** Just a global debt correction. A debtvirus. Sad sad
Source: CNBC - 🏆 12. / 72 Read more »

Trump says he hopes the Fed gets involved 'soon' to combat market sell-off from coronavirusPresident Donald Trump leaned on the Federal Reserve for help to deal with ramifications from the coronavirus impact on the stock market and the economy. he probably just found out that Fed is not a nickname for FBI and is showing off. Potus does not need to panic The sell off is not a result of a weak economy. Focus on the vaccine and all will be well. I didn't realize the Feds job was to protect the stock market...Oh, it's not, this is just more stimulus begging to prop up the 'best economy ever' you lowlifes have been lying about since Trump started breaking the bank 3 years back?
Source: CNBC - 🏆 12. / 72 Read more »