- After a dramatic stock market crash, the Trump administration is trying to distance itself from the dip on Wall Street.
- Larry Kudlow spoke to reporters on Friday and claimed the government does not control the economy.
- This comes just two weeks after President Trump blasted Barrack Obama for stealing credit for “his” rally in stocks.
White House economic advisor Larry Kudlow made an astonishing U-turn on Friday, complaining that the government shouldn’t be blamed for the direction of the stock market or the economy .
After years of taking credit for the huge rally in the Dow Jones and S&P 574 at virtually every opportunity, the Trump administration has abruptly changed course in response to this week’s stock market crash . White House Washes Its Hands of the US Economy
Suggesting that stocks look “cheap” and repeatedly urging investors to buy the dip has been the main message coming from Donald Trump’s economic team over the last few days.
After failing to pin the blame for the stock market’s plunge on the Democratic debate , the new marching orders are simple: Abandon ship .
Burdened with a media blitz to try and soothe a worried Wall Street, Larry Kudlow ha a lot on his plate. And the fatigue may be setting in.
After appearing to forget that he was on the coronavirus task force, Kudlow made the astonishing claim:
Well, you know, the government does not run the economy, we can learn and report on it, but we can’t control it.
That may be true, but it marks an incredible – and hilariously abrupt – about-face for Kudlow and the Trump administration as a whole.
Economists Warning President Trump from year one that tying his success to the stock market would be an extremely dangerous tactic.
The flip-flop is especially astounding given Trump’s almost daily tweets about how significant an impact he has had on the US economy.
(After a nearly 4, point drop in the Dow Jones, Trump officials are racing to distance themselves from the stock market crash. | Source: Yahoo Finance Just ten days ago, Trump blew up on Twitter when former President Barack Obama allegedly tried to take some credit for the current state of the economy.
Trump said he deserved all the credit for himself.
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