WASHINGTON—President Donald Trump on Sunday cautioned against stockpiling of food and urged Americans to remain calm.
“There’s no need for anybody in the country to hoard essential food supplies,” he said during a press briefing at the White House on Sunday.
“Relax. We’re doing great. It all will pass.”
Trump held a phone call on Sunday with the grocery store and supply chain executives from across the country.
“They’ve done a fantastic job,” he told reporters. “They’re going to meet the needs of the public. They’re going round the clock if they have to.”
“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 are constantly available. And they’ll do it. There’s no shortage. We have no shortages, other than people buying anywhere from three to five times what they would normally buy.”
Many shelves lay empty at grocery stores across the country as buyers stocked up in preparation to hunker down amid the coronavirus outbreak. Several major grocery chains cut opening hours to allow for restocking, and many stores rationed some essentials to abate restocking woes.
The items most often reported as lacking included toilet paper, hand sanitizer, paper towels, and bottled water. Some customers also reported that milk, eggs, pasta, and flour were out of stock.
“They’re committed to remaining open during this crisis, totally open. They have to stay open,” Trump said. “And the stores are stocking up at a level that’s beyond Christmas time.”
States and localities have been declaring their own states of emergency and adopting protective measures such as banning large gatherings and encouraging people to avoid crowds.
Many Americans responded by stockpiling food and hygiene supplies. Some even tried to exploit the situation by hoarding high-demand items for reselling.
Pharmacy chain Walgreens and supermarket chain Kroger instituted purchase limits to stabilize their inventories.
Trump Praises the Fed
Trump also praised the Federal Reserve’s emergency rate cut on Sunday.
“I think people in the markets will be very thrilled,” he said. “That’s a big step, and I’m very happy they did it.”
The Federal Reserve has slashed its rates to near zero and announced a range of financial crisis management measures, including the launch of a massive $700 billion quantitative easing program, as the United States grapples with the coronavirus pandemic.
The Fed is going to be purchasing $500 billion of treasuries and $200 billion of mortgage backed securities, Trump said.
“I congratulate the Federal Reserve. I think it’s terrific,” Trump said.
Petr Svab and Tom Ozimek contributed to this report
