The White House economic advisor Kevin Hassett is next to US President Donald Trump in the White House Oval Office in Washington, DC, United States, March 7, 2025.
Leah Millis | Reuters
An overwhelming stock market is not part of an intentional strategy of President Donald Trump, the director of the National House Council, Kevin Hassett, said on Sunday “this week” of ABC. This came after Trump shared a link to a video on his social media platform, Truth Social, who said that the president had the express markets fall in the context of his broader economic plans.
The video, which initially appeared on Tiktok in March, was divided by Trump on April 4, two days after his pricing announcement.
“Trump crushed the stock market 20% this month, but he does it on purpose. … And that could make you rich,” said the video. He continued by adding that such a Trump decision would help “push money in treasury bills, which obliges the Fed to reduce interest rates in May. … It also weakens the dollar and lowers mortgage rates. Now, it is a move of wild failures, but it works.”
When he was asked several times if Trump has intentionally developed a market sales strategy, Hasset replied: “He is not trying to disembark the market. He tries to deliver for American workers.”
“This is not a strategy for the markets to crash,” said Hasset.
The deployment of president’s reprisal rates on Wednesday led to a saddle a high sale of the market due to the growing fears of an extension of prolonged world trade and a recession. THE Industrial average Dow Jones decreased by about 2,231 points, or 5.5%, only Friday – its greatest drop since June 2020. The broad market S&P 500 Sold almost 6% on Friday, after a 4.8% dive on Thursday. Technology Nasdaq Composite Placed almost 12% within two days of the deployment of the price and fell into the territory of the bear market.
