Trump assures on stocks, calls for Fed to lower rates, says 'middle-income' tax cut under consideration

President Trump in remarks on the effects of the coronavirus at a rare press conference Saturday said he believes the stock market can bounce back on corporate and consumer strength even as the U.S. and other nations deal with the deadly COVID-19. The first related U.S. death, in Washington state, was confirmed earlier Saturday. As a way to shore up the U.S. economy from the virus and other factors, Trump repeated his hope that the politically independent Federal Reserve lower U.S. interest rates. The Fed should be "the leader, not a follower" among industrial nations in looser monetary policy, he said. Asked if tax-policy action might be likely given this economic setback, Trump said a "pretty major" middle-income tax cut was being considered in not too distant future.

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