Biden long avoided touting stock market gains. Now he can't resist.
Biden Touts Market Highs: Strategy Shift?
President Joe Biden, who previously avoided boasting about stock market achievements to distance himself from former President Donald Trump's approach, has started to highlight recent market highs. The Dow Jones recently surpassed 40,000, prompting significant commentary from Biden and his administration, emphasizing the success of his economic policies. This shift comes as Biden and Trump gear up for a potential election rematch, with Biden using these market milestones to counter Trump's previous predictions of economic downturns under Biden's presidency.
What reasons did White House Press Secretary Karine Jean-Pierre give for the significance of the stock market highs under President Biden?
White House Press Secretary Karine Jean-Pierre highlighted the significance of the stock market highs under President Biden by stating that they are good for retirement accounts and household wealth. She used this point to argue that the stock market highs are evidence of Biden's economic plan working effectively. By linking the strong market performance to the administration's policies, Jean-Pierre aimed to demonstrate that the Biden's economic strategy is successful in improving the financial well-being of American households.
What specific event triggered President Joe Biden to start publicly commenting on stock market gains, despite his initial reluctance?
President Joe Biden began publicly commenting on stock market gains due to the Dow Jones Industrial Average closing above 40,000 for the first time ever. This milestone event, marked by the Dow touching and then closing above this barrier, spurred a flurry of commentary from Biden and his campaign. This shift in approach was influenced by the opportunity to counter Donald Trump's frequent stock market commentary and to highlight the success of his own economic policies during an election year.