Jim Cramer
Scott Mlyn | CNBC
CNBC’s Jim Cramer said Thursday he believes the government is debating some big options to tackle the economic and financial markets crisis arising from the coronavirus pandemic.
Cramer made these comments — shortly after the S&P 500‘s first-level, 7% down circuit breakers kicked in and paused trading for 15 minutes — following a call he took live on television around 9:38 a.m. ET on CNBC’s “Squawk on the Street.”
Here’s what Cramer said:
“I think that’s about to change…Yeah, I do believe that they’ll enact some of the ideas I just talked about earlier. I think that they will perhaps consider the idea that the federal government does not need to be paid during this period so therefore the people, the working people, get paid and are protected. I think they are debating the notion about whether they should have a trust fund…also debating the notion right now about whether the Federal Reserve should be able to guarantee credit lines. The Treasury trust fund would indeed, perhaps, take advantage of the lower rates and make it so that people feel their credit lines would be backed up. I believe that some of these plans that I mentioned are being debated right now and I feel better…You’re going to get clarity.”
This is a developing story. Check back for updates.
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