Name: President Trump speaks at COVID-19 briefing
Uploaded: 2020-03-19T22:21:04.000Z
Duration: 8 min 45 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Say, I think we have some great things to talk about.

I'll start by discussing the Federal Reserve.

As you know, it just happened two minutes ago, but to me it makes me very happy, and I want to congratulate the Federal Reserve.

For starters, they've lowered the Fed rate from what it was, which was 1 to 1.25 and it's been lowered down to 02 0.25 or 0.25 So it's 2.25 That's a big difference.

And in addition, very importantly, the Federal Reserve is the going to be purchasing $500 billion of Treasuries and $200 billion of mortgage backed securities, and that number can increase.

But they're going to start with that, and it's really good news.

It's something that, uh, we're very happy.

I have to say this very happy, and they did it in one step that didn't do it in forceps over a long period of time.

They did it in one step, and I think that people in the market should be very thrilled.

And that brings us with the strongest country in the world by far financially, in every other way.

And that brings us in line with what other countries are.

No, they're actually, they actually have negative rates.

But look, we got it down to potentially zero.

So that's a big step that I'm very happy they did it.

Um, on dhe, you will not hear anything bad about me unless it's about a month or two from now.

So, uh, I congratulate the Federal Reserve.

I wasn't gonna mention Federal Reserve or anything else, but this came out as we were walking up.

I want to thank the people at Google and Google Communications because, as you know, they substantiated what I said on Friday.

Uh, the head of Google, who's a great gentleman, said, called us and he apologize.

I don't know where the press got their fake news, but they got it someplace.

They put out a release, and, uh, you guys can figure it out yourselves and how that got out.

And I'm sure you'll apologize, but it would be great if we could really give the news correctly.

Uh, I just had a phone call with very impressive people, the biggest in the world in the world of stores and groceries and all.

Dave Clark, Whole Foods More Klaus, CEO of Campbell's Soup Company.

Brian Cornell, CEO of Target Randy Ed Occur chairman and CEO president of Hy Vee Jeff Ham earning CEO of General Mills Great company.

Rodney McMullen, CEO, chairman of Kroger Big company Dug make Melon CEO off Walmart He's been fantastic.

Doug was here is you know on Friday and he watched the market go of 2000 points.

One Friday it went up 2000 almost 2000 points.

Dart Vaso, CEO of Dollar General Corporation and, uh, Derek saying Koran, presidency of Albertson's.

So these are all phenomenal cos he's a great cos we had a long conversation with them and they've, uh they're gonna work 24 hours around the clock, keeping their stores stocked.

I would like to say that people shouldn't go out and buy.

What's happened with the Fed is phenomenal is what's happening with all of these Incredible cos is phenomenal news, but you don't have to buy so much.

People are going in and they're buying more.

I guess during the conversation, Doug of Wal Mart said that they're buying more than they buy a Christmas.

Uh, the folks that we spoke to, they've done a fantastic job.

They're going to meet the needs of the public.

They're going around the clock if they have to.

And they're committed to the communities where they're serving and which they serve so beautifully and have for a long time.

And they're buying a lot of additional things too cell.

But again, they actually have asked me to say, Could you buy a little bit less please?

I think I thought I'd never hear that from a retailer.

All of them are working hand in hand with the federal government as well as the state and local leaders to ensure food and essentials.

Other than people are buying anywhere from 3 to 5 times what they would normally buy.

We're doing numbers and there's a pent up demand that's incredible.

When this passes when this goes through, you're going to see numbers.

I guess I'm allowed to predict, just like Wall Street people are allowed to predict and there pretty much in agreement.

Your going to see there's a pent up demand like like a lot of people, including me, haven't seen before.

They know they're getting through the crisis and will require all of America approach, and that's very important.

They're committed to remaining open during this crisis, totally open.

They supply our country, our supply chains in America, the most powerful in the world, and they're all working very hard.

They're working around the clock and the stores are stocking up at a level that's beyond Christmas time.

And, uh, it's, uh, it's great was very reassuring.

Speaking to these people, they have a totally in hand.

There's no need for anybody in the country to hoard essential food supplies.

They said to me, Could you please tell him just going Bye, Enjoy it.

Relax, because there's plenty, but you don't have to.

You don't have to buy the quantities because it's hard to refill the stores on a basis is rapid.

And we're using the full power of the federal government to defeat the Corona virus, and we will do whatever it takes.

I want to thank all of the people standing behind me.

You know, they use their phenomenal people on dhe.

We have some of them right over here, But the people behind me have been working round the clock and they're doing an incredible job.

We see what's going on in other countries we're looking at.

We're learning from watching other countries.

Frankly, this is there's a very contagious.

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President Trump speaks at COVID-19 briefing

incredible

tremendous

contagious

crisis