More so than other presidents, and to the endless frustration of economists, Donald Trump correlated stock market performance with the nation’s economic health. However, President Joe Biden is unlikely to measure his own achievements by the gyrations of the stock market, economic experts say — and that message is likely to resonate with an anxious population.
“I doubt Joe Biden views the stock market as a barometer of his immediate success,” said Thomas Martin, senior portfolio manager at Globalt Investments. “He is focused on the health and welfare of Americans. He will gauge success on how much he can flatten the curve, prevent deaths and get the economy back in shape.”
For much of Trump’s presidency, it was easy for him to claim credit for stock gains, since he was set up for success, economists say. Read more…..
Chart of the Day
Icarus TV
Joe Biden was sworn in minutes after Kamala Harris became the first female, Black and South Asian vice president in a ceremony marked by messages of hope and healing and star performances.
