President Trump said Americans' 401(k) plans would suffer under other presidents.
Americans’ retirement and investment portfolios would suffer with other presidents, and the economy wouldn’t be as strong as it is now, President Trump said in remarks to reporters after the jobs report on Thursday.
He credited the growth of the stock market to his administration’s actions with partners and Congress, including the federal government’s response to the coronavirus crisis. “This is not just luck,” he said. “This is a lot of talent.” The stock market has taken investors on a wild ride this year. In February, when the first few cases of the coronavirus were detected in the U.S., the stock market tumbled to correction territory, and in March, it officially entered a bear market. States issued lockdowns, which shuttered businesses and cost workers their jobs or a portion of their earnings, and Americans began claiming unemployment in droves.
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