Former President Donald Trump suggested on Wednesday that there could be a stock market crash if he does not win the presidential election later this year in November. Speaking at a Fox News town hall in Iowa, Trump stated that he believes the economy is in a poor state, except for the stock market, which he attributes to his lead over Biden in the polls.
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When questioned about his previous remarks expressing a desire for any economic downturn to occur in the next 12 months, Trump clarified that he is not hoping for a crash but expressed concern about the economy being "fragile."
“I think there will be a crash if I don't win,” Trump stated, emphasizing his desire for him not to parallel the presidency of Herbert Hoover, who took office during a stable economy but later witnessed the Great Depression.
In an interview with former Fox Business Network host Lou Dobbs, Trump described the economy as “fragile” and reiterated his hope that, if a crash were to happen, it would occur in the next 12 months.
The Biden campaign and other Democrats focused on Trump's comments, asserting that they demonstrated his lack of concern for average American workers and suggested his focus was solely on political outcomes. The Biden campaign promptly emailed supporters with the subject line, "Donald Trump Already is Herbert Hoover."
While the economy has been a strong point for Trump with voters, Biden aides argue that the president's economic plan is effective, citing a decline in inflation, robust employment numbers, and continued growth that has exceeded expectations.
The US stock market notably reached record highs in mid-December. Trump, who is the front-runner for the GOP nomination in 2024, remains a central figure in discussions surrounding the nation's economic trajectory.