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Coronavirus: Donald Trump urges panic buyers to 'relax' as Federal Reserve cuts interest rate

The US president spoke as many supermarket shelves were emptied, with people stockpiling supplies such as pasta and toilet paper.

President Donald Trump is urging the public to stop hoarding groceries, telling Americans to "take it easy" and "relax."
Trump urges public not to 'buy so much'
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微信斗牛要从哪里拉人donald trump has urged the public to stop hoarding groceries during the coronavirus outbreak, telling americans to "take it easy" and "relax".

微信斗牛要从哪里拉人the us president's message came as many supermarket shelves across the us - and the uk - were emptied, with people stockpiling supplies including canned food, pasta and toilet paper.

America's central bank, the Federal Reserve, took emergency action on Sunday to help the US economy withstand the virus微信斗牛要从哪里拉人 by slashing its benchmark interest rate to near zero.

Coronavirus: The infection numbers in real time

Coronavirus: The infection numbers in real time

In a White House briefing on Sunday, Mr Trump - who has tested negative for COVID-19微信斗牛要从哪里拉人 - said shops were working to keep up with demand but added "there's no need for anyone in the country to hoard essential food supplies".

微信斗牛要从哪里拉人"you don't have to buy so much. take it easy. just relax," he said.

"we're doing great. it all will pass.

微信斗牛要从哪里拉人"can you buy a little bit less, please?"

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mr trump said there were "no shortages" but some people were buying three to five times the amount they would normally purchase.

he added that he held a call with the officials from america's leading grocery outlets who were stocking up even more than they would around christmas time.

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mr trump also hailed the "very good news" that the federal reserve had slashed its benchmark interest rate by a full percentage point to a target range of 0% to 0.25%.

微信斗牛要从哪里拉人the us central bank said that rate would remain until it feels confident the economy has weathered recent events.

it has also dropped its requirements that banks hold cash reserves in another move to encourage lending.

Meat shelves lay empty at a supermarket in Saugus, Massachusetts on March 13, 2020. - Supermarkets and shops around Boston have been emptied by customers in fear of Covid-19. (Photo by Joseph Prezioso / AFP) (Photo by JOSEPH PREZIOSO/AFP via Getty Images)
Image: Supermarket shelves were emptied in Saugus, Massachusetts

微信斗牛要从哪里拉人other central banks around the world, including the bank of england, the bank of canada, the bank of japan, the european central bank, and the swiss national bank, announced they would co-ordinate to ease liquidity in an attempt to blunt the economic impact of the virus.

a statement from the governor of the bank of england, mark carney, and incoming governor, andrew bailey, said: "today's co-ordinated action by major central banks will improve global liquidity by lowering the price and extending the maximum term of us dollar lending operations. these new operations will help ease strains in global funding markets, thereby supporting the supply of credit to households and businesses.

微信斗牛要从哪里拉人"this action complements other steps being taken by central banks and other national authorities, including the comprehensive and timely package of measures launched by the bank of england last wednesday. these measures, reinforced by targeted fiscal actions such as in the uk budget, will help economies to bridge the disruption from an economic shock that could prove sharp and large, but should be temporary."

Shoppers line up with full carts in a supermarket in Virginia on March 13, 2020. - Earlier in the day US president Donald Trump declared coronavirus a national emergency. (Photo by Daniel SLIM / AFP) (Photo by DANIEL SLIM/AFP via Getty Images)
Image: Shoppers line up in a supermarket in Virginia

us officials have recorded nearly 3,000 covid-19 cases and 62 deaths linked to the virus.

the us has lagged behind other developed nations in its ability to test for coronavirus, but vice president mike pence promised that americans would have access in the days ahead to more than 2,000 laboratories capable of processing tests.

in an effort to combat the spread of the virus, new york city is closing nearly 1,900 public schools, affecting more than a million children, and mayor bill de blasio has ordered the city's restaurants, bars, theatres and cinemas to shut.

the us states of ohio, illinois and los angeles have also taken measures by ordering all bars and restaurants to close.

people returning to the us faced long queues as they were screened for coronavirus, prompting federal officials to deploy more staff and mr trump to appeal for patience.

MIAMI,  - MARCH 15: People wait to check-in at the Qatar Airways counter amid coronavirus fears at Miami International Airport on March 15, 2020 in Miami, Florida. Airline companies have seen travelers canceling or moving up return dates as people protect themselves against the possibility of catching COVID-19. (Photo by Joe Raedle/Getty Images)
Image: People wait to check-in at Miami International Airport

微信斗牛要从哪里拉人the us president said airport checks are "moving as quickly as possible but it was important to be vigilant and careful".

微信斗牛要从哪里拉人meanwhile, the german government is trying to stop the trump administration from persuading a german company seeking a coronavirus vaccine to move its research to the us.

微信斗牛要从哪里拉人sources told the reuters news agency that the us government is looking into how it could gain access to a potential vaccine being developed by a german firm curevac.

the german newspaper welt am sonntag reported that mr trump had offered funds to lure curevac to the us, and the german government was making counter-offers to tempt it to stay.

however, richard grenell, the us ambassador to germany, insisted on twitter that "the welt story was wrong".

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In other developments:

  • Globally more than 169,000 are infected and over 6,500 have died
  • US President Donald Trump tests negative for the coronavirus
  • Guatemala logs its first fatality from COVID-19
  • Italy records 368 more deaths from the coronavirus outbreak on Sunday, its biggest one day rise
  • France is preparing an order that would put the country under partial lockdown to combat the epidemic
  • Britain will isolate older people "within weeks" and force into quarantine anyone diagnosed with coronavirus
  • Jordan confirms 12 new cases of the coronavirus
  • More major retailers shut stores in the US including Nike, Under Armour, and Lululemon Athletica

Sky News will broadcast a special programme at 6pm, with experts answering your questions #AskSkyNews at 12.30pm

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