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Bankers meet with Trump, say prepared to help economy

Published 03/11/2020, 04:17 PM
Updated 03/11/2020, 04:17 PM
© Reuters. U.S. President Donald Trump delivers remarks to the news media during a meeting with bankers on COVID-19 Coronavirus response, inside the Cabinet Room at the White House in Washington

WASHINGTON (Reuters) - Leading U.S. bank executives in a meeting with President Donald Trump at the White House said banks are strongly capitalized and prepared to help small businesses and American consumers weather the coronavirus outbreak.

The chief executives of Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), Citi, JPMorgan Chase (NYSE:JPM) and others said banks are in good shape, there is no financial crisis and bankers want to provide liquidity.

Trump said he would discuss travel restrictions to Europe later on Wednesday.

Latest comments

Trump met with bankers today to tell them what he was announcing tonight..
Acting.
I feel sorry for Trump but this might be his last year in office. The economy is going south, the farmers are mad, the virus is spreading, the debt is too high, US is behind in 5G, student debt is drowning students, housing market has peak and is unaffordable, etc...is going to take a lot to overcome these...
I watched the event. seemed like a trump *******kissing contest for some free government money.
Wonder how Trump managed to go to the golf course in the middle of this crisis?Perhaps that's where he makes pvt calls!
If banks are strongly capitalized... why are we injecting hundreds of billion dollars into them daily?
I don't understand your question. Banks are required to meet extremely conservative capital ratios as required as part of the fallout of the great recession. Who's injecting hundreds of billions into the banks??
Ever hear of the Fed's Repo Market?
thats injecting money in to the entire system. How exactly do you think they keep rates low? They need to flood the market with liquidity. Also, that money isnt given to banks. It’s lent to then overnight in exchange for treasuries.
Bankers can help economy but thr thing is that people who are investing are too much afraid of investing due to corona virus thay they are making their own economy bleed without thinking that at the end of day it will ruin their life. Dont loose your confidence fight with corona use preventive measures all will be alrite. We are ourselve making this market down
I dont see the massive crisis... i see a massive buying opportunity
It is not people buying and selling btw :) Gone away those days you actually take real cash to the bank to make a purchase.
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