Trump’s Call To Action Resulted In Feds Cutting Interest Rates By Half A Percentage Point

President Trump has been putting pressure on the Federal Reserve to take appropriate actions in response to the Coronavirus outbreak, even though the stock market has made tremendous strides.

Trump understands the power behind being economically prepared over being panicked.

Check out these tweets –

As The Daily Wire reported earlier today –

After a brutal week, the stock market surged back Monday amid an increasing expectation from investors that the Federal Reserve and other major central banks will lower interest rates in response to coronavirus. As the stock market enjoyed its biggest single-day positive movement in over a decade, Trump applied more pressure to Federal Reserve Chair Jerome Powell to take action to help mitigate the impact of the epidemic.

Soon thereafter, ABC News reported:

The Federal Reserve announced a surprise rate cut of half a percentage point on Tuesday in an effort to mitigate the economic impacts of the coronavirus outbreak on the U.S. economy.

“The fundamentals of the U.S. economy remain strong,” a statement from the Federal Reserve said. “However, the coronavirus poses evolving risks to economic activity.

In light of these risks and in support of achieving its maximum employment and price stability goals, the Federal Open Market Committee decided today to lower the target range for the federal funds rate by 1/2 percentage point, to 1 to 1‑1/4 percent.”

This is precisely why having someone like President Trump, a prestigious and experienced business man, is imperative to have in charge.

Our nation has desperately needed his fresh set of eyes and his business/economical perspective. He fully understands the trickle effect and makes moves in moderation to prevent downside risks.

The Coronavirus outbreak has already caused tremendous economic downfall in China, which happens to be the world’s second largest economy.

According to Fox Business:

Financials took a hit as lower rates mean banks and other lenders are forced to offer lower borrowing costs which may impact profits at some point. The flip side is consumers can borrow at cheaper rates.

Economical safeguarding will always accompany some give-and-take but I have faith in our President to remain steadfast with real time oversight.