Washington (CNN) President Donald Trump on Sunday praised the Federal Reserve's move to slash interest rates to near zero in an bid to support the economy during the coronavirus pandemic, calling it a "big step."

"It makes me very happy, Trump said in a surprise appearance in the White House briefing room. "And I want to congratulate the Federal Reserve."

The last time the Fed cut rates so low was during the global financial crisis just more than a decade ago.

"That's really great for our country," Trump proclaimed. "It's something that we're very happy, I have to say this, I'm very happy. And they did it in one step, they didn't do it in four steps over a long period of time. They did it in one step and I think that people in the market should be very thrilled."

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