Trump Brags About Stock Market Gains, But He Still Lags Behind His Predecessors
The stock market has enjoyed an upward trend under President Donald Trump, but as much as he boasts it’s the best market ever, gains under Trump still lag behind those of his predecessors.
According to Axios, the S&P 500 has risen 42 percent during Trump’s first three years as president, per market data from his inauguration through the last day of 2019.
But gains under Trump “lag those under former Presidents Barack Obama, when stocks rebounded from the lows of the financial crisis, and George H.W. Bush,” the news outlet noted.
Trump has frequently bragged about the stock market during his tenure, as well as the 50-year low unemployment rate, Axios noted. But when it comes to the stock market as evidence of a thriving constituency, the gains only apply to about half of Americans.
Most Americans who engage the stock market do so via retirement accounts. But Axios also noted that Trump’s policies have not been so rosy for all Americans — for example, U.S. farmers who have been harmed by Trump’s trade policies and those employed in the manufacturing sector.