Former President Donald J. Trump quickly seized on the recent stock market downturn to criticize current leadership.
On Monday, he posted on Truth Social, “Stock markets are crashing, jobs numbers are terrible, we are heading to World War III, and we have two of the most incompetent ‘leaders’ in history.”
Trump’s remarks reflect his belief that economic indicators like the stock market are crucial measures of economic health.
Senator JD Vance of Ohio, Trump’s running mate, echoed this sentiment, stating, “This moment could set off a real economic calamity around the globe. It requires steady leadership — the kind President Trump delivered for four years.”
Vance’s comments highlight Trump’s narrative that the current administration’s handling of the economy is inadequate, as reported by The New York Times.
In contrast, Vice President Kamala Harris has projected optimism about the economy, stating, “We believe in a future that keeps America’s economy the strongest in the world,” during a recent speech in Houston.
She emphasized the importance of economic opportunities such as business ownership and home ownership.
The economic landscape, including potential Federal Reserve actions, could influence voter perceptions before the election.
A potential rate cut by the Fed in September might lower borrowing costs for big-ticket items, reinforcing the notion that inflation is under control and improving consumer outlook, which could benefit Harris.
However, some Democrats worry that the Fed’s decision to maintain steady rates last month may have contributed to the recent market sell-off, potentially harming Harris’s position.
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