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  • beautiful day out.

  • Say, I think we have some great things to talk about.

  • I'll start by discussing the Federal Reserve.

  • As you know, it just happened two minutes ago, but to me it makes me very happy, and I want to congratulate the Federal Reserve.

  • For starters, they've lowered the Fed rate from what it was, which was 1 to 1.25 and it's been lowered down to 02 0.25 or 0.25 So it's 2.25 That's a big difference.

  • It's a it's, uh, quite a bit.

  • Got a point.

  • And in addition, very importantly, the Federal Reserve is the going to be purchasing $500 billion of Treasuries and $200 billion of mortgage backed securities, and that number can increase.

  • But they're going to start with that, and it's really good news.

  • It's really great for our country.

  • It's something that, uh, we're very happy.

  • I have to say this very happy, and they did it in one step that didn't do it in forceps over a long period of time.

  • They did it in one step, and I think that people in the market should be very thrilled.

  • And that brings us with the strongest country in the world by far financially, in every other way.

  • And that brings us in line with what other countries are.

  • No, they're actually, they actually have negative rates.

  • But look, we got it down to potentially zero.

  • So that's a big step that I'm very happy they did it.

  • Um, on dhe, you will not hear anything bad about me unless it's about a month or two from now.

  • So, uh, I congratulate the Federal Reserve.

  • I think it's terrific.

  • Just came out just as we spoke.

  • I wasn't gonna mention Federal Reserve or anything else, but this came out as we were walking up.

  • I want to thank the people at Google and Google Communications because, as you know, they substantiated what I said on Friday.

  • Uh, the head of Google, who's a great gentleman, said, called us and he apologize.

  • I don't know where the press got their fake news, but they got it someplace.

  • But as you know, this is from Google.

  • They put out a release, and, uh, you guys can figure it out yourselves and how that got out.

  • And I'm sure you'll apologize, but it would be great if we could really give the news correctly.

  • Will be so, so wonderful.

  • Uh, I just had a phone call with very impressive people, the biggest in the world in the world of stores and groceries and all.

  • And I'll give you the names.

  • Dave Clark, Whole Foods More Klaus, CEO of Campbell's Soup Company.

  • Brian Cornell, CEO of Target Randy Ed Occur chairman and CEO president of Hy Vee Jeff Ham earning CEO of General Mills Great company.

  • Kevin, You're a can Presidency of Cisco.

  • Greg Jelen, ex CEO of Costco.

  • Todd Jones, CEO of Publix Supermarkets.

  • Dani King, Tyson Foods.

  • David McLennan, German Sea of Cargill.

  • Rodney McMullen, CEO, chairman of Kroger Big company Dug make Melon CEO off Walmart He's been fantastic.

  • Doug was here is you know on Friday and he watched the market go of 2000 points.

  • One Friday it went up 2000 almost 2000 points.

  • Dart Vaso, CEO of Dollar General Corporation and, uh, Derek saying Koran, presidency of Albertson's.

  • So these are all phenomenal cos he's a great cos we had a long conversation with them and they've, uh they're gonna work 24 hours around the clock, keeping their stores stocked.

  • I would like to say that people shouldn't go out and buy.

  • We're gonna all be great.

  • We're gonna be so good we're gonna do.

  • What's happened with the Fed is phenomenal is what's happening with all of these Incredible cos is phenomenal news, but you don't have to buy so much.

  • Take it easy.

  • Just relax.

  • People are going in and they're buying more.

  • They I remember.

  • I guess during the conversation, Doug of Wal Mart said that they're buying more than they buy a Christmas.

  • Relax, we're doing great.

  • It'll will pass.

  • Uh, the folks that we spoke to, they've done a fantastic job.

  • They're going to meet the needs of the public.

  • They're going around the clock if they have to.

  • And they're committed to the communities where they're serving and which they serve so beautifully and have for a long time.

  • And they're buying a lot of additional things too cell.

  • But again, they actually have asked me to say, Could you buy a little bit less please?

  • I think I thought I'd never hear that from a retailer.

  • All of them are working hand in hand with the federal government as well as the state and local leaders to ensure food and essentials.

  • Air constantly available.

  • And they'll do it.

  • There's no shortages.

  • We have no shortages.

  • Other than people are buying anywhere from 3 to 5 times what they would normally buy.

  • It's gonna be there for a long time.

  • We're doing numbers and there's a pent up demand that's incredible.

  • When this passes when this goes through, you're going to see numbers.

  • I think I predict.

  • I guess I'm allowed to predict, just like Wall Street people are allowed to predict and there pretty much in agreement.

  • Your going to see there's a pent up demand like like a lot of people, including me, haven't seen before.

  • But this has to get through.

  • They know they're getting through the crisis and will require all of America approach, and that's very important.

  • They're committed to remaining open during this crisis, totally open.

  • They have to stay open.

  • Those stories have to stay open.

  • They supply our country, our supply chains in America, the most powerful in the world, and they're all working very hard.

  • They're working around the clock and the stores are stocking up at a level that's beyond Christmas time.

  • And, uh, it's, uh, it's great was very reassuring.

  • Speaking to these people, they have a totally in hand.

  • There's no need for anybody in the country to hoard essential food supplies.

  • They said to me, Could you please tell him just going Bye, Enjoy it.

  • Have a nice dinner.

  • Relax, because there's plenty, but you don't have to.

  • You don't have to buy the quantities because it's hard to refill the stores on a basis is rapid.

  • Is that refilling them?

  • And we're using the full power of the federal government to defeat the Corona virus, and we will do whatever it takes.

  • And we're doing really, really well.

  • A lot of good things are gonna happen.

  • I want to thank all of the people standing behind me.

  • You know, they use their phenomenal people on dhe.

  • We have some of them right over here, But the people behind me have been working round the clock and they're doing an incredible job.

  • We see what's happening.

  • We see what's going on in other countries we're looking at.

  • We're learning from watching other countries.

  • Frankly, this is there's a very contagious.

  • It's a very contagious virus.

  • It's incredible, but it's something that we have tremendous control of.

  • I think very important.

  • The young people, people of good health, Uh and groups of people just are not strongly affected.

  • Elderly people that are not well, not well in certain respects are really a very dangerous group.

  • We have to watch them.

  • We have to protect them very much.

  • We have to really watch over them and protect them because they are very vulnerable.

  • And without of it's OK.

  • I'm just going to go and make some calls.

  • I'm talking about Federal Reserve.

  • I think it's a tremendous thing that took place just now.

  • I didn't know.

  • Be surprised on a Sunday.

  • I don't know that's ever happened on a Sunday before, but I would think there are a lot of people on Wall Street that are very happy and I can tell you that I'm very happy.

  • I didn't expect this and I like being surprised.

  • So our vice president is doing an incredible job, is gonna take over and I will see you probably tomorrow.

  • Thank you very much.

  • Hi, everyone.

  • George Stephanopoulos here.

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  • The ABC News After breaking news alerts Thanks for watching.

beautiful day out.

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