Stocks Surged This Morning As Trump Spoke With Hedge Funds About Re-Opening Economy, Fed Rescue

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by Tyler Durden
Tuesday, Mar 24, 2020 - 02:35 PM

While the words all sound like he cares about "we, the people," we can't help but feel like President Trump's true driver in his anti-virus efforts are focused on the only thing that matters - the stock market.

Having pushed the narrative all morning that he would like to see the economy re-open soon, CNBC's Kayla Tausche reports that President Trump and VP Pence held an investor call this morning with Wall Street heavyweights to discuss the markets, the Federal Reserve, and economic reopening.

Major investors and executives on the call reportedly included:

  • Dan Loeb, Third Point

  • Steve Schwarzman, Blackstone

  • Robert Smith, Vista Equity

  • Jeff Sprecher, ICE/NYSE

  • Paul Tudor Jones, JUST Capital

The group also reportedly discussed when would be appropriate to reopen the US economy with Trump acknowledging it couldn't happen right away but that he didn't want it shut for six months.

And Tausche reports that, per a source close to the President, he noted that "what the Fed can do to keep parts of the debt markets, in particular, from seizing up."

And while this call was going on, The Dow soared...

Other than - "just keep printing and increase the fiscal stimulus" - we wonder what these 'smartest guys in the room' offered President Trump in terms of meaningful policy suggestions. Cut taxes again?