President Donald Trump has aggressively defended his economic record, pointing to a surging stock market to counter concerns that inflation and high grocery prices are hurting everyday Americans.
Trump Links Record Stock Market Directly To Tariff Policy
While speaking to CBS‘s Norah O’Donnell, the president repeatedly linked the strong economy and a “total national security” footing to his aggressive use of tariffs.
He argued his tariff policies were responsible for bringing $17 trillion in new investment into the U.S., which he claimed would benefit the average worker.
When asked how this investment would “trickle down,” Trump replied, “Because of jobs, because they’re building plants.”
Trump Blames Inflation On Biden Administration
The president, who claimed the stock market had “just hit an all-time high… 48 times” in the nine months of his second term, dismissed the idea that inflation is an ongoing problem, blaming any high prices on the previous administration.
“No, you’re wrong. They went up under Biden. Right now they’re going down,” Trump said, admitting that beef prices were an exception for which he said he was “working on.”
Trump Got Everything He Wanted From China Deal
The interview, which took place at Mar-a-Lago on Oct. 31, also covered a recent trade deal with China, a federal government shutdown, and foreign policy.
Trump said he “got sort of everything that we wanted,” including an end to the “rare earth threat” and securing “billions and billions of dollars” through tariffs.
Trump Says Retirement Account Savings Have Doubled
Trump claimed the market gains were directly benefiting working families through their retirement accounts. The comments came after O’Donnell noted that “not everybody’s invested in the stock market” and that many have seen “grocery prices go up.”
Acknowledging it, Trump said, “Look, 401(k)s. People have 401(k)s. Their 401(k)s are double what they were a year ago.”
Trump Addresses Potential AI Bubble
When asked by O’Donnell at the end of the interview if he worried about a potential “AI bubble” in the stock market, Trump was concise: “I guess. I worry about everything, you know? … I worry and then I fix it.”
S&P 500, Nasdaq Power Through October
Over the last month, the S&P 500 index rose by 1.85%, the Nasdaq 100 gained 4.33% and the Dow Jones returned 1.72%.
On Friday, all three indices advanced with the S&P 500 up 0.26%, while the Nasdaq 100 and Dow Jones rose 0.48% and 0.09%, respectively.
On Monday, the futures of all three indices were trading higher.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga
