Posted 2/23/2024, 7:17:28 PM
Biden Touts Stock Market Gains But Faces Risks in Linking Economy to Volatile Markets
- Biden is touting stock market gains to take some credit for the economy and boost his reelection chances
- There are risks to a president bragging about stocks, which can quickly reverse course
- Stocks are up more under Biden so far than at this point in Trump's term, giving Biden potential bragging rights
- Stocks recovering and hitting new highs create a "wealth effect" that makes people feel better off
- If the Dow hits 40,000, Biden will likely celebrate some, but should still proceed cautiously in touting stock gains