Amid a rough month for the stock market, with concerns about a potential recession, White House Press Secretary Karoline Leavitt defended President Donald Trump’s economic policies, calling it a “golden age” for the American economy.
Leavitt dismissed the stock market’s sharp decline as just a “snapshot in time,” even as Fox News, broadcasting the briefing live, showed the Dow Jones dropping steadily in real-time.
The market’s struggles, partly due to Trump’s escalating trade war, prompted questions about the economy’s future. In a recent interview, Trump didn’t rule out the possibility of a recession, and his allies were busy trying to downplay the bad economic forecasts. At Tuesday’s press briefing, reporters were quick to ask about the market’s downturn.
Breaking Points host Saagar Enjeti pointed out that the administration’s messages on the economy seemed unclear. He asked, “Can the White House assure Americans there is not going to be a recession?”
Leavitt responded by downplaying the stock market’s decline and shifting blame to the previous administration. “The stock market numbers we see today, yesterday, and tomorrow are just a snapshot of a moment in time,” she said. “As President Trump has said, we are in a period of economic transition. We’re moving away from the mess created under Joe Biden.”
She continued to blame Biden for leaving the U.S. in an “economic disaster,” as the live ticker showed the Dow Jones dropping by as much as 721 points.
“We’re transitioning from an economic nightmare under a president who had no idea what he was doing, to a golden age of American manufacturing under a businessman and dealmaker like President Trump,” she added.
Fox News’ Peter Doocy then asked Leavitt if the administration would struggle to ask federal workers to retire, given how their retirement accounts were losing value. He also joked, “You’re sure nobody here at the White House shorted the Dow?”
Leavitt responded by talking up President Trump’s “America First” trade policy. “President Trump is focused on looking out for workers. His economic plan, which focuses on fair trade and putting American workers first, is something Americans should be optimistic about.”
While she continued to praise Trump’s economic plan, the Dow Jones ticker kept falling, dropping by a total of 726 points at one point.
