President Donald Trump has often pointed to the stock market as a reflection of his administration’s success, taking credit for its rises while dismissing or deflecting blame for sell-offs. Over the past year, Trump’s rhetoric has shifted depending on the market’s performance and the political landscape. When the market rallied, Trump attributed the gains to confidence in his electoral prospects for 2024.
He predicted that a Democratic win would lead to a crash similar to 1929. Trump also credited specific individuals, such as Scott Bessent, for their positive projections based on his lead in the polls. However, when the market experienced downturns, Trump was quick to blame others.
He attributed crashes to “Bidenomics” and the leadership of President Joe Biden and Vice President Kamala Harris.
Trump ties market to 2024 win
Trump dismissed the recent sell-off, stating, “You can’t really watch the stock market.”
Trump’s statements often tied the market’s success directly to his own performance and the possibility of a “Trump economic boom” if he were to win the 2024 election.
He even joked about starting his term early due to the market’s enthusiasm for his potential victory. Throughout his presidency, Trump consistently emphasized the stock market as a barometer of his administration’s achievements. He highlighted record-breaking performances, such as the S&P 500 surpassing 6,000 points, and the surge in small business optimism.
Trump’s stance on tariffs remained steadfast, despite their potential impact on the market. He viewed tariffs as a means to “make America rich again” and was willing to accept “a little disturbance” in pursuit of this goal. As Trump navigates his second term, economists and analysts are closely watching how his economic policies and trade agenda will influence the stock market’s trajectory.
The administration appears to be prioritizing the reformation of the global financial system, even if it means accepting short-term market turbulence.
Image Credits: Photo by Ruben Sukatendel on Unsplash
