Trump: We are not going to let it turn into a long-lasting financial problem

U.S. President Donald Trump said today that he will not allow the coronavirus to cause long-term damage to the US economy and that he will consider how to move forward after a 15-day closure next week.

“America will open again and soon to work,” Trump told a White House news conference, stressing, “We will not let it turn into a long-term financial problem”, after the outbreak of the Covid 19 virus in the United States.

In a series of historical measures, the Federal Reserve purchased corporate bonds and direct corporate loans, expanded its holdings of assets as necessary to stabilize financial markets, and launched a program to obtain credit for SMEs.