Exclusive Content:

Trump says he hopes any economic crash would happen before he could serve a possible second term

Former President and Republican presidential candidate Donald Trump attends a campaign event, in Clinton, Iowa, January 6, 2024.Cheney Orr/Reuters

Former President Donald Trump predicted the US economy would “crash,” saying he hoped it would do so within the next year – before he would assume the Oval Office should he win a second term in November.

“When there’s a crash, I hope it’s going to be during this next 12 months because I don’t want to be Herbert Hoover. The one president – I just don’t want to be Herbert Hoover,” Trump said in an interview that aired Monday on the right-wing platform Lindell TV.

The US stock market crashed during former President Herbert Hoover’s first year in office in 1929, which signaled the beginning of the Great Depression.

The comments come as the front-runner for the Republican nomination looks to drive home his message on the economy – and criticism of President Joe Biden – with less than a week to go until Iowa’s pivotal caucuses.

Trump, who regularly attacks Biden over his economic policies, described the economy as “so fragile” in the interview and claimed it was “running off the fumes” of the Trump administration.

A December jobs report on Friday, however, blew past expectations of monthly jobs added, capping off what’s been a year of resilience in the labor market that has fueled consumer spending and economic growth in the past year.

Treasury Secretary Janet Yellen defended the state of the economy in a Friday interview with

“There has been a lot of pessimism about the economy that’s really proven unwarranted. A year ago, most forecasters believed we would fall into a recession. Obviously, that hasn’t happened,” Yellen said, adding, “We have a good strong labor market.”

Besides being spared a recession, the US stock market overcame regional banking turmoil, a debt ceiling crisis and geopolitical tensions last year. The S&P 500 ended the year 24% higher, the Dow rose 14% and the Nasdaq jumped 43%. Still, recession worries linger on Wall Street, as do concerns about war in the Middle East. The election threatens to stir up market volatility, though history shows the S&P 500 index tends to gain during the fourth year of presidential terms.

Latest

Bravo’s ‘The Valley’ showcases reality drama, without the table tossing

Somewhere between the immaturity of Bravo’s “Vanderpump Rules” and...

How the USA’s shock cricket triumph reflects a global sporting and geopolitical transformation

Call it the Miracle on Grass. A national cricket team...

Endangered Republicans gamble backing Trump after guilty verdict as vulnerable Democrats remain cautious

For more on how vulnerable Republicans are grappling with...

Adding just a few ultraprocessed foods to a healthy diet raised risk of cognitive decline and stroke, study says

Eating more ultraprocessed foods is linked to a higher risk of cognitive...

Newsletter

spot_img

Don't miss

Bravo’s ‘The Valley’ showcases reality drama, without the table tossing

Somewhere between the immaturity of Bravo’s “Vanderpump Rules” and...

How the USA’s shock cricket triumph reflects a global sporting and geopolitical transformation

Call it the Miracle on Grass. A national cricket team...

Endangered Republicans gamble backing Trump after guilty verdict as vulnerable Democrats remain cautious

For more on how vulnerable Republicans are grappling with...

Adding just a few ultraprocessed foods to a healthy diet raised risk of cognitive decline and stroke, study says

Eating more ultraprocessed foods is linked to a higher risk of cognitive...

Alec and Hilaria Baldwin announce TLC reality series about their family

Alec and Hilaria Baldwin are bringing their large family...
spot_imgspot_img

Bravo’s ‘The Valley’ showcases reality drama, without the table tossing

Somewhere between the immaturity of Bravo’s “Vanderpump Rules” and ridiculousness of the “Housewives” franchise, lies “The Valley.” The latest Bravo reality series, which concluded its...

Endangered Republicans gamble backing Trump after guilty verdict as vulnerable Democrats remain cautious

For more on how vulnerable Republicans are grappling with former President Donald Trump’s conviction, watch “Inside Politics Sunday with Manu Raju” at 8 a.m....

LEAVE A REPLY

Please enter your comment!
Please enter your name here