In his own words: Trump takes credit for stock market rises but casts aside blame for sell-off
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FIL:E - The New York Stock Exchange is shown in New York's Financial District Dec. 23, 2024. (AP Photo/Peter Morgan, File)2025-03-12T04:09:55Z WASHINGTON (AP) President Donald Trump in recent days has dismissed fears of a recession and brushed aside the stock market sell-off, going so far as to say, You cant really watch the stock market. Thats a new message from a leader who has frequently pointed to the markets ups and downs as a reflection of himself and his activities, even when he was not in power. Over the last year, while President Joe Biden was in office, Trump took credit for stock market rallies as a vote of confidence in his electoral prospects. When the market dipped, he blamed Biden and Vice President Kamala Harris. And he predicted that if Democrats won the 2024 presidential election, the stock market would have crashed.A look at some of Trumps observations on the stock market over the last year:Jan. 29, 2024, on Truth SocialTHIS 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 EVERYTHING ELSE IS TERRIBLE (WATCH THE MIDDLE EAST!), AND RECORD SETTING INFLATION HAS ALREADY TAKEN ITS TOLL. MAKE AMERICA GREAT AGAIN March 12, 2024, on Truth Social High Interest Rates and Inflation are choking our great middle class, and ALL, our Economy is bad, and our Stock Market is rising only because Polls are strongly indicating that we will WIN the Presidential Election of 2024.April 25, 2024, on his way into court for his criminal trial in New York The stock market is, in a sense, crashing. The numbers are very bad. This is Bidenomics. Its catching up with him. Its lucky that its catching up before he leaves office as opposed to after he leaves office.May 15, 2024, on Truth SocialThank you to Scott Bessent, one of the Great Prognosticators on Wall Street! There are many people that are saying that the only reason the Stock Market is high is because I am leading in all of the Polls, and if I dont win, we will have a CRASH of similar proportions to 1929. I agree, but lets hope we dont have to worry about that! May 18, 2024, at an NRA event in Dallas, Texas:We are a nation whose stock markets continued success is contingent on MAGA winning the next election.July 16, 2024, on Truth SocialDow Jones UP 742 based on the fact that the Market expects a TRUMP WIN in November! Nice compliment Thank you!Aug. 4, 2024, on Truth SocialSTOCK MARKETS CRASHING. I TOLD YOU SO!!! KAMALA DOESNT HAVE A CLUE. BIDEN IS SOUND ASLEEP. ALL CAUSED BY INEPT U.S. LEADERSHIP!Aug. 14, 2024, at a rally in Asheville, North CarolinaIf Harris wins this election, the result will be a Kamala economic crash, a 1929-style depression. 1929. When I win the election, we will immediately begin a brand new Trump economic boom. Itll be a boom. Were going to turn this country around so fast. Many people say that they only reason the stock market is up is because people think I am going to win.Oct. 29, 2024, during a rally in Allentown, PennsylvaniaYou want to see a market crash? If we lost this election, I think the market would go down the tubes.Nov. 4, 2024, at a rally in Grand Rapids, MichiganTrump started praising Bessent and said: You know what his theory is? The stock market is the only sign of life, and its only going up because everyone thinks Trump is going to win the election. And others, too. Others, too. Im seeing it a lot. I think theyre following your lead. But I appreciate that confidence. Nov. 14, 2024, at a Mar-a-Lago gala in Florida:We had three or four of the highest -- I guess, almost every single day, we set new records in the stock market. We set new records economically.Trump, in comments directed at House Speaker Mike Johnson, then said: Mr. Speaker, I think its important, maybe you should pass a bill, you have to start my term from Nov. 5, OK, or Nov. 6, if you want. Nov. 5 because the market has gone through the roof. Enthusiasm has doubled.Dec. 12, 2024, in an interview with CNBC at the New York Stock Exchange:Trump was asked by host Jim Cramer whether its still the case that stock market indexes were a good barometer of his performance.Well, I think Ive always said, you know, to me, stock market is very all of it, you know, all of it together, its very important. Its an honor to be here in New York Stock Exchange. I sort of joked that I actually bought the building across the street because the stock exchange was here. Its a big deal. Dec. 16, 2024, during a news conference at Mar-a-LagoTrump was asked whether he is concerned that his tariffs might hurt the stock market.Make our country rich. Tariffs will make our country rich, Trump responded. Jan. 7, 2025, during a news conference at Mar-a-LagoSince my election, the stock market has set records. The S&P 500 index has broken above 6,000 points for the first time ever, never even close.Jan. 19, 2025. at a rally in Washington, D.C.Everyone is calling it the I dont want to say this. Its too braggadocious, but well say it anyway, the Trump effect. Its you. Youre the effect. Since the election, the stock market has surged, and small business optimism has soared, a record 41 points to a 39-year high. Feb. 19, 2025, at an investment conference in Miami BeachI think the stock market is going to be great. In other words, we will rapidly grow our economy by dramatically shrinking the federal government.Feb. 21, 2025, speaking to the nations governors at the White HouseWhen we turned over the reins, the stock market was higher than just previous to COVID coming in, which was an amazing achievement.March 4, 2025, in a joint address to CongressHaving sparked a North American trade war and with the S&P 500 losing all of its post-election gains, Trump said in his speech to Congress: Tariffs are about making America rich again and making America great again, and its happening and it will happen rather quickly. Therell be a little disturbance, but were OK with that. It wont be much.March 9, 2025, in a taped interview on Fox News Channels Sunday Morning FuturesAfter a week of wild swings on Wall Street over uncertainty about his tariffs, Trump was asked whether he was expecting a recession in 2025. He said: I hate to predict things like that. There is a period of transition because what were doing is very big. Were bringing wealth back to America. Thats a big thing. He added, It takes a little time. It takes a little time. But I think it should be great for us.Elsewhere in the interview, when Trump was asked about the market going down: You cant really watch the stock market. ... You cant go by that. You have to do whats right.March 9, 2025, to reporters on Air Force OneWhen asked about his hesitation during the Sunday Morning Futures interview before answering the recession question, Trump said: I tell you what, of course you hesitate. Who knows? All I know is this: Were going to take in hundreds of billions of dollars in tariffs, and were going to become so rich youre not going to know where to spend all that money. Im telling you, you just watch.March 11, 2025, to reporters at the White HouseTrump was asked about the market after a selloff Monday and more trembling on the markets Tuesday. Markets are going to go up and theyre going to go down. We have to rebuild our country, he said.In response to a question about whether his tariffs caused the turmoil in the markets, Trump said: Biden gave us a horrible economy. He gave us horrible inflation. And I think the market was going to go very, very bad. If anything, I have a lot of very smart people, friends of mine, and great businessmen. Theyre not investing because of what Ive done.On whether he thinks there will be a recession: I dont see it at all. I think this countrys going to boom. But as I said, I can do it the easy way or the hard way. The hard way to do it is exactly what Im doing, but the results are going to be 20 times greater. Remember, Trump is always right. MICHELLE L. PRICE Price covers the White House. She previously covered the 2024 presidential campaign and politics, government and other news in New York, Nevada, Utah and Arizona. She is based in Washington. twitter mailto
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