The following article by Glenn Kessler and Meg Kelly was posted on the Washington Post website August 2, 2017:
“Stock Market could hit all-time high (again) 22,000 today. Was 18,000 only 6 months ago on Election Day. Mainstream media seldom mentions!”
— President Trump, in a tweet, Aug. 1, 2017 (Market closed at 21,963.92)
For years, Donald Trump warned that the stock market was in a “bubble” and ready to crash — and then he became president.
As the president finds his legislative initiatives stuck in Congress and vexing international problems immune to Twitter diplomacy, he has increasingly celebrated the continued rise in the stock market since he was elected.
The problem is that before he was elected, he warned repeatedly that the stock market would crash as soon as the Federal Reserve began raising interest rates. In the aftermath of the Great Recession, the Fed dramatically lowered rates to near zero — and kept them there for years. As he began running for president, Trump darkly warned that rates were being kept artificially low to ensure Hillary Clinton’s election and that everything would tumble once rates began to creep up again. Continue reading “President Trump keeps celebrating stock market highs. That’s a big flip-flop.”