President Trump, in a lengthy exclusive interview with Blake Burman of FOX Business, says that Federal Reserve Chairman Jerome Powell has done a good job and has stood out in the past six months.
Once a harsh and frequent critic of Federal Reserve Chairman Jerome Powell, President Trump has closed the loop by hailing him highly praised and took his handle on the coronavirus pandemic to earn Trump’s respect.
“I would say that at first I was not happy with him and that I feel happier with him every time. I think he walked over to the plate. He’s done a good job, “Trump said during an exclusive interview with Blake Burman of FOX Business.
“He had to liquefy a little bit, let us liquefy, the economy, get the money he needed, and I would say that in the last six-month period it really caught up,” Trump said.
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Faced with an unprecedented shutdown of the US economy amid the fast-moving coronavirus and a massive sell-off in financial markets that drove US stocks to annual lows in March, the Fed chief guided policy makers to reduce interest rates to almost zero. In addition, policymakers instituted other measures to shore up liquidity in financial markets and high street loans.
EDF OFFICERS COMMIT TO FULL SUPPORT TO HELP THE RECOVERY OF CORONAVIRUSES IN THE USA.
On Wednesday, in the release of the minutes of the June meeting, the Fed indicated that interest rates will remain at current levels for the foreseeable future.
While the economy remains in a slow recovery mode, the U.S. financial markets, which are considered prospective, posted the best quarter through June in more than two decades.
On the first day of the second half of the year, the Nasdaq recorded its 22nd record closing of 2020.
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TRUMP SUPPORTS THE BIGGEST STIMULUS PAYMENTS OF $ 1,200 IN THE NEXT STIMULUS ACCOUNT
Trump also reiterated that the US economy will see a rapid or V-shaped recovery in the coming months aided by a Phase 4 stimulus plan that can cause Americans to receive payments even higher than $ 1,200.
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