President Donald Trump on Sunday night praised the Federal Reserve’s surprise move to cut interest rates to near zero, just a day after he said he had the power to demote or dismiss the central bank’s chairman.
Appearing in the White House briefing room just minutes after the Fed’s announcement, Trump said he was “very happy” with the action and that people in the market should be “thrilled.”
The Fed cut interest rates by a full percentage point and launched a package of programs to help fix problems on Wall Street that have emerged in the aftermath of COVID-19, the disease that has infected nearly 160,000 people globally and claimed nearly 6,000 lives.