President Trump may watch the stock market more closely than any day trader does.
For a president who underlined the increasing importance of working-class whites to the GOP coalition, and who trampled so much bipartisan economic orthodoxy during the campaign, to be so overtly obsessed with the stock market is a strange disconnect.
In fact, no president in memory has so publicly staked himself to the market. Trump has, in contrast, paid relatively little public attention to wage growth, which is the measure that more closely tracks with his particular political project, especially considering that his election prospects may again depend on Pennsylvania, Michigan and Wisconsin.
Why the focus on the stock market? For one thing, it’s impossible to avoid. The stock market numbers run in little boxes in the bottom right-hand corner of cable-news TV screens. Big gains or drops make front-page news. The market’s performance affects how people feel about the economy on any given day.
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2 comments:
It's unfortunate people think they know what they are talking about. PRESIDENT TRUMP has every right to be pissed off at the FED. After 8 years of stagnant growth EVERYWHERE. We begin to walk after crawling for 8 years. Then we start to jog at the FED trips us. We get back up dust ourselves off. We begin to walk AGAIN. Then we start to jog AGAIN. THE FED TRIPS US ONCE AGAIN.WTF??
So true, end the FED!
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