White House Legislative Director Marc Short said Wednesday that the volatility in the stock market is likely a correction from the historic highs of the past year, but added the “fundamentals” of the economy are strong.
“I think what you’re seeing is simply a reaction from the market to those expectations of higher inflation, but that’s not necessarily a bad thing,” Mr. Short said on Fox Business.
He said President Trump has been happy with the stock market’s performance so far and is not concerned about the recent drop. Mr. Short added that the president is also looking at how the economy is working for those on “Main Street” rather than just the stock market. He pointed to higher wages and low unemployment as tangible benefits for middle-class Americans.
“I think the president’s proud of the gains and the turnaround of the market, just as he’s excited about the turnaround for Main Street Americans, too,” Mr. Short said.
• Sally Persons can be reached at spersons@washingtontimes.com.
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