Trump blames Biden for stock market losses, while economists blame him

President Donald Trump has placed all blame on Former President Joe Biden for the recent stock market bear streak, while economists fact-checked his statements with swiftness.

On his very own social media platform Truth Social, the president preached to his loyal followers by placing full responsibility on Joe Biden for recent stock market disasters. "This is Biden's Stock Market, not Trump's... [he] left us with bad numbers, but when the boom begins, it will be like no other, BE PATIENT!!!," the president exclaimed to the MAGA base.

Although the president is playing the game of words to try to distract Americans from the recent economic peril which he has presided over, many economists and experts are not buying what Trump has to say. Many of these professionals blame Trump's waging of trade wars with foreign countries and tariff hikes as the two key policies which have ruined the economy and stock markets combined over the past 100 days or so. There is indeed merit to this argument, as tariffs have contributed to "reciprocal tariffs" placed on the United States by foreign countries, as well as the implementation of other incentives in order to prevent American exports. Investors interpreted his waging of trade wars as a threat to the economy, as many American businesses rely on exporting goods in order to stay afloat; as a result, they sold off in droves, contributing to the worst days in the stock market ever since the 2020 COVID-19 Pandemic, which he himself coincidentally also presided over. As some would say, any parallels?

Furthermore, the president's tariffs have hiked the cost of goods for both businesses and everyday Americans. With goods becoming less affordable, inflation crept up, interest rates were forced to stagnate rather than decrease, and companies were forced to lay off employees, contributing to higher unemployment.

Meanwhile, the president was left with a stable economy, albeit with some imperfections; while Joe Biden did preside over a brief instance of inflation increases, these levels have generally reduced right until the start of Trump's presidency; in addition, inflation stabilized and unemployment reached its lowest levels in years.

So, is the president right in his claim on Truth? Partially. Although the market frenzy was directly due to his tariff policies, not enough time has passed for us to make definite conclusions about Trump's impact on the economy; we could only look at short-term data. This does not mean that the president is innocent in this matter.