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.

Россия Последние новости, Россия Последние новости

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