From President Donald J. Trump:
A clip of former President Donald Trump arguing that the election of President Joe Biden would lead to a plummeting stock market circulated online on Friday after Wall Street saw a bloodbath.
The Federal Reserve increased targets for the federal funds rate by 0.75% on Wednesday afternoon, sending the Dow Jones Industrial Average, which tracks 30 of the most prominent companies on American exchanges, tumbling more than 500 points. After stagnating on Thursday, the index fell another 500 points by early Friday afternoon to 29,400. On January 20, 2021, the day of Biden’s inauguration, the Dow had closed slightly above 30,900.
According to conservative polling group InteractivePolls, which posted the clip from the debate to social media, the tech-heavy NASDAQ had risen 44% once Trump was 612 days into his first term. At the same point in Biden’s tenure, however, the index has fallen more than 19%.
Nasdaq Performance 612 days in office
President Trump: +44.17
President Biden: -19.24%pic.twitter.com/DOitQP1a7h— InteractivePolls (@IAPolls2022) September 23, 2022
Indeed, the United States economy has languished over the past two years under multiple disruptions — including labor shortages, supply chain bottlenecks, and the Russian invasion of Ukraine — all of which have contributed to worsening inflationary pressures.
Read the full article by Ben Zeisloft with the Daily Wire here.
