Stock Market Legend Jim Cramer Gives Trump High Praise For New Coronavirus Measures
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CNBC's Jim Cramer hasn't been the biggest fan of President Trump's Coronavirus response, but todays press conference changed all of that in a heartbeat.
On Monday, Trump told reporters about the serious new economic measures that Trump would be taking in response to the potential slowdown caused by the Coronavirus.
Here are more details from the presser, via NPR:
President Trump said on Monday that the White House is planning on asking Congress to pass a payroll tax cut and relief for hourly wage earners in order to assist workers who may be feeling the financial pinch amid the coronavirus outbreak.
"Very substantial relief that's a big number," Trump said. "We're also going to be talking about hourly wage earners getting help so that they can be in a position so they are not going to ever miss a paycheck," he said.
Trump said the White House is also working with the Small Business Administration and industries including airlines, cruise ship businesses and hotel owners, which are all grappling with economic hardship as demand from consumers slumps and travelers cancel plans.
"We are going to take care of and have been taking care of the American public and the American economy," Trump said.
In response, Jim Cramer gave high praise to the President. Cramer says this type of rhetoric is what the market needs to halt the sharp selloff:
To see the Trump press conference for yourself, here it is the video:
What is your reaction to President Trump's new economic measures? Comment below...