
Trump Truth Social: Trump Claims He Prevented Stock Market Crash in Swipe at Wall Street Journal
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Okay, that's not true.
Donald Factor
In fact, President Trump said that the pick-up in share prices was down to just the one, crucial factor – President Trump.
In a strange mixture of Trumpy Trump and Grumpy Trump this was the latest post picked up by our Trump Dashboard.
'The Wall Street Journal ran a typically untruthful story today by saying that Secretary of the Treasury, Scott Bessent, explained to me that firing Jerome 'Too Late' Powell, the Worst Federal Reserve Chairman in History, would be bad for the Market.
Nobody had to explain that to me. I know better than anybody what's good for the Market, and what's good for the U.S.A.
If it weren't for me, the Market wouldn't be at Record Highs right now, it probably would have CRASHED! So, get your information CORRECT. People don't explain to me, I explain to them!'
If only the President had been around back in 1929, ensuring that the word did not fall into the Great Depression and the long, dark slide towards World War Two and all of its horrors.
Confidence Returns
But let's not be too cynical. Yes, a large reason behind the slump in April was down to fears over the President's tariff policies. His decision to pause or reduce some of the worst tariffs, as well as seal very favorable trade deals for the U.S. with the likes of the U.K. have also installed confidence.
Better than expected economic and inflation data and positive corporate commentary have also helped.
However, one analyst thinks that the rally – largely driven by U.S. tech may be running out of steam.
Whenever a narrow rally losses steam, it usually signals that investors are starting to look for signs of a broader rally,' said Matt Maley, of Miller Tabak & Co. 'When they don't get it, they tend to pull back for a while.'
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