Trump Congratulates Fed After it Cuts Rate to Near Zero To Cushion Economy From Coronavirus

Minutes before a press conference with Trump, Vice President Pence, and other national health officials amid the coronavirus, the U.S. Federal Reserve cut its benchmark interest rate by a full percentage point to near zero and promising to boost its bond holdings by at least $700 billion. Trump, who has repeatedly attacked the Fed for more than a year for not lowering rates faster and further, quickly expressed support for the move. “It makes me very happy and I want to congratulate the Federal Reserve,” he said. “That’s a big step and I’m very happy they did it.” Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm QUICKTAKE ON SOCIAL: Follow QuickTake on Twitter: twitter.com/quicktake Like QuickTake on Facebook: facebook.com/quicktake Follow QuickTake on Instagram: instagram.com/quicktake Subscribe to our newsletter: https://bit.ly/2FJ0oQZ Email us at [email protected] QuickTake by Bloomberg is a global news network delivering up-to-the-minute analysis on the biggest news, trends and ideas for a new generation of leaders.