Trump: You don't have to buy so much

President Trump urges Americans not to hoard food amid concerns over the spread of the coronavirus.

Ben Ariel ,

Donald Trump
Donald Trump

US President Donald Trump on Sunday urged Americans not to hoard food during a White House press conference held moments after the Federal Reserve announced new steps to shield the American economy from the effects of the coronavirus pandemic.

“You don’t have to buy so much. Take it easy. Relax. We’re doing great, it all will pass,” said Trump, who cautioned against panic buying and said that food supply chains remained intact.

Noting that earlier in the day he had met with executives from consumer and grocery companies such as Target, Campbell’s and Costco, Trump added, “They have asked me to say, ‘Could you buy a little bit less please.’ I thought I would never hear that from a retailer.”

Trump also praised the Federal Reserve’s announcement that it will cut its benchmark interest rate to near zero and launch a $700 billion quantitative easing program.

“It makes me very happy and I want to congratulate the Federal Reserve,” Trump said. “I think that people in the market should be very thrilled.”

On Friday, Trump declared a national emergency to help handle the growing outbreak of the novel coronavirus.

The action helps $50 billion flow to states fighting to contain the spread of the virus, which has infected almost 1,700 people.