President Donald Trump asserted that the financial impact of the coronavirus was not a crisis in an address to the nation on Wednesday.
“This is not a financial crisis, this is just a temporary moment of time that we will overcome together as a nation,” he said in a ten-minute address from the Oval Office on Wednesday night.
The stock market continues to suffer heavy losses as it reacts to the spread of the virus in the United States.
“No nation is more prepared or more resilient than the United States,” he said.
The president said that the economy was strong, thanks to the economic policies of his administration.
“We have the greatest economy anywhere in the world by far,” Trump said, noting that the banks were strong and unemployment was low.
The president said the administration would take “unprecedented” emergency action to assist workers suffering from the virus or its economic effects.
“This will be targeted for workers that are ill, quarantined, or caring for others due to coronavirus,” he said.