Not like some guys!
On Wednesday in a speech to union and labor leaders at the White House, Joe Biden said:
By the way, the stock market has gone up exponentially since I’ve been president. You haven’t heard me say a word about it. (Laughter) I’m glad it’s gone up, no problem. Look, let me tell you something. My measure of economic success is how families like mine growing up, working families busting their neck, how they’re doing, whether they have a little breathing room, whether they have a job that delivers some dignity, a paycheck they can support a family on
Of course the irony of his taking another victory lap (by rough count his four thousandth in seven months) in the very statement where he’s doing just that is lost on him.
But what about the veracity of the claim? Is it true that Biden has not said “a word about” the stock market? Before answering, it’s fair to give Biden some credit. The stock market, whether due to his attempts to reconfigure the economy or something else, has risen under his presidency. That certainly runs counter to predictions like the one made last year by AdvisorShares CEO Noah Hamman that “a Biden win in November could send the stock market spiraling 25% lower.”
But back to the lingering question. In July, Biden said this back in July in response to a question from a reporter on inflation:
There is nobody suggesting there is unchecked inflation on the way. No serious economist. That’s totally different. I mean, look, the stock market is higher than it has been in all of history, even went down this month. Even down this month. Now, I don’t look at the stock market as a means to judge the economy like my — my predecessor did but he would be talking to me every day, the last few months about how the stock market is so high, higher than in history. Still higher than any time in history. So, that’s not how I judge whether or not we have economic growth.