Trump Says He’s Responsible for the Stock Market

After publicly hoping for an economic catastrophe for his political benefit, Donald Trump is publicly taking credit for the stock market hitting record highs under President Biden. 

Throughout the 2020 election, Trump consistently predicted economic catastrophe and a stock market freefall if Biden won. 

Yet not only did that never happen, the Dow Jones Industrial Average and S&P 500 have repeatedly broken records in the past few weeks, to the extent that even the Trump-sympathetic Fox News is—begrudgingly—publicly acknowledging its performance.

Faced with these facts and formidable trends under Biden, Trump has pivoted. 

“THIS IS THE TRUMP STOCK MARKET BECAUSE MY POLLS AGAINST BIDEN ARE SO GOOD THAT INVESTORS ARE PROJECTING THAT I WILL WIN, AND THAT WILL DRIVE THE MARKET UP,” said Trump on Truth Social.

Though there is no evidence to suggest his claims are true, Trump has employed this narrative in recent Town Halls and by proxy, such as Fox News’ Larry Kudlow.

On the other hand, Kudlow recently conceded that Biden “gets his due” for the strength of the stock market and admitted that he would brag about its performance too if he were the president. 

Stock market performance is the macroeconomic metric most cherished by Republicans, though most economists agree that others such as gross domestic product and unemployment are more important indicators of a nation’s economic health.

Though public polling sits squarely on the side of Republicans, data consistently show that the American economy performs better when Democrats control the White House.