According to John Hopkins University U.S. coronavirus cases now tally almost 3,300, a huge increase from the approximately 100 cases that were confirmed in the U.S. on March 1st. Despite the rising number of cases, President Trump, at Sunday’s White House press conference, reassured Americans that our food supply chains “remain intact” and urged people to not hoard food. After meeting with Costco, Campbell’s and Target companies Trump reported:
“They have asked me to say, ‘Could you buy a little bit less please.’ I thought I would never hear that from a retailer.”
Prior the Trump’s press conference, the Federal Reserve announced its plans to cut interest rate down to nearly zero. In addition to cutting the interest rate, the Fed is initiating a $700 billion quantitative easing program. This program will add new money directly to the economy. Trump expressed his approval, saying, “It makes me very happy and I want to congratulate the Federal Reserve.”
Read more at CNBC.